Wall Street Zen Downgrades Brilliant Earth Group (NASDAQ:BRLT) to Buy

Brilliant Earth Group (NASDAQ:BRLT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also issued reports on BRLT. B. Riley began coverage on shares of Brilliant Earth Group in a report on Tuesday, October 7th. They set a “buy” rating and a $3.00 target price on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a research report on Wednesday, November 5th. Cowen reiterated a “hold” rating on shares of Brilliant Earth Group in a research note on Friday, August 8th. Zacks Research cut Brilliant Earth Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $2.20.

Brilliant Earth Group Price Performance

NASDAQ BRLT opened at $2.80 on Friday. The company has a market cap of $279.30 million, a P/E ratio of -93.33 and a beta of 1.39. The stock has a 50-day moving average of $2.47 and a two-hundred day moving average of $1.91. Brilliant Earth Group has a 1-year low of $1.25 and a 1-year high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings data on Wednesday, June 12th. The company reported $0.03 EPS for the quarter. Brilliant Earth Group had a net margin of 0.44% and a negative return on equity of 1.23%. The business had revenue of $97.70 million during the quarter. On average, analysts anticipate that Brilliant Earth Group will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Klingman & Associates LLC raised its stake in Brilliant Earth Group by 61.5% in the second quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock valued at $204,000 after buying an additional 56,451 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Brilliant Earth Group by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock worth $1,254,000 after buying an additional 70,833 shares during the last quarter. Finally, Kapitalo Investimentos Ltda boosted its position in shares of Brilliant Earth Group by 234.0% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock worth $94,000 after acquiring an additional 31,851 shares in the last quarter. 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.