Telsey Advisory Group Reiterates Market Perform Rating for Brilliant Earth Group (NASDAQ:BRLT)

Brilliant Earth Group (NASDAQ:BRLT)‘s stock had its “market perform” rating reiterated by analysts at Telsey Advisory Group in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $2.00 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 41.84% from the company’s previous close.

Brilliant Earth Group Price Performance

NASDAQ:BRLT opened at $1.41 on Monday. The stock has a market capitalization of $140.03 million, a PE ratio of 47.02 and a beta of 1.35. Brilliant Earth Group has a 1-year low of $1.25 and a 1-year high of $2.68. The firm has a fifty day simple moving average of $1.47 and a 200 day simple moving average of $1.64. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14). Brilliant Earth Group had a net margin of 0.50% and a return on equity of 3.09%. The business had revenue of $93.88 million during the quarter, compared to the consensus estimate of $94.42 million. On average, research analysts expect that Brilliant Earth Group will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Brilliant Earth Group

Several hedge funds have recently added to or reduced their stakes in BRLT. Renaissance Technologies LLC increased its holdings in shares of Brilliant Earth Group by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 129,400 shares of the company’s stock valued at $272,000 after purchasing an additional 7,400 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Brilliant Earth Group during the 4th quarter worth about $25,000. XTX Topco Ltd bought a new stake in shares of Brilliant Earth Group during the 4th quarter worth about $38,000. Northern Trust Corp boosted its holdings in shares of Brilliant Earth Group by 64.0% during the 4th quarter. Northern Trust Corp now owns 73,024 shares of the company’s stock worth $153,000 after buying an additional 28,505 shares during the period. Finally, Millennium Management LLC acquired a new position in Brilliant Earth Group in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Brilliant Earth Group

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company’s product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.