Telsey Advisory Group Reaffirms “Outperform” Rating for Brilliant Earth Group (NASDAQ:BRLT)

Brilliant Earth Group (NASDAQ:BRLT)‘s stock had its “outperform” rating reiterated by research analysts at Telsey Advisory Group in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $4.00 price objective on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 53.26% from the stock’s current price.

A number of other brokerages have also weighed in on BRLT. KeyCorp cut their price target on shares of Brilliant Earth Group from $6.00 to $3.00 and set an “overweight” rating on the stock in a research note on Monday. TD Cowen dropped their price target on Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating for the company in a research note on Friday, March 15th.

Brilliant Earth Group Price Performance

BRLT stock remained flat at $2.61 on Friday. The company had a trading volume of 5,928 shares, compared to its average volume of 42,991. Brilliant Earth Group has a 1-year low of $2.04 and a 1-year high of $4.29. The company has a market capitalization of $255.41 million, a P/E ratio of 52.01 and a beta of 1.63. The business has a 50 day simple moving average of $2.81 and a two-hundred day simple moving average of $2.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.66 and a quick ratio of 2.17.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $124.30 million for the quarter, compared to analyst estimates of $125.10 million. Brilliant Earth Group had a net margin of 0.51% and a return on equity of 7.19%. As a group, equities analysts expect that Brilliant Earth Group will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Brilliant Earth Group

A number of hedge funds have recently added to or reduced their stakes in the company. Mainsail Management Company LLC purchased a new stake in Brilliant Earth Group in the 3rd quarter worth $94,299,000. Federated Hermes Inc. grew its stake in Brilliant Earth Group by 7.1% in the 3rd quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock worth $354,000 after acquiring an additional 7,920 shares in the last quarter. Finally, Avestar Capital LLC lifted its stake in Brilliant Earth Group by 25.0% in the fourth quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after acquiring an additional 5,000 shares during the period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Brilliant Earth Group Company Profile

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