Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been given a consensus recommendation of “Reduce” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $1.7375.

Separately, Weiss Ratings downgraded shares of Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th.

Brilliant Earth Group Stock Performance

Brilliant Earth Group stock opened at $1.14 on Friday. The stock has a market cap of $115.27 million, a PE ratio of -3.68 and a beta of 1.37. The stock has a 50-day moving average price of $1.23 and a 200 day moving average price of $1.42. Brilliant Earth Group has a 52 week low of $1.00 and a 52 week high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $99.50 million for the quarter, compared to analysts’ expectations of $98.16 million. Brilliant Earth Group had a negative net margin of 0.71% and a negative return on equity of 18.23%. On average, equities analysts predict that Brilliant Earth Group will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Brilliant Earth Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Brilliant Earth Group in the 3rd quarter valued at about $32,000. Algert Global LLC acquired a new position in shares of Brilliant Earth Group in the third quarter worth about $40,000. Renaissance Technologies LLC lifted its stake in shares of Brilliant Earth Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $382,000 after acquiring an additional 22,000 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Brilliant Earth Group by 58.0% in the fourth quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock valued at $109,000 after purchasing an additional 22,793 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in Brilliant Earth Group by 257.0% in the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock valued at $109,000 after purchasing an additional 37,774 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.