Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives $2.50 Consensus Target Price from Analysts

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.50.

A number of research analysts recently issued reports on the stock. Zacks Research raised Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Wall Street Zen downgraded shares of Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 target price on shares of Brilliant Earth Group in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Brilliant Earth Group in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BRLT. Klingman & Associates LLC lifted its stake in shares of Brilliant Earth Group by 61.5% in the 2nd quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock valued at $204,000 after purchasing an additional 56,451 shares in the last quarter. Capital World Investors raised its holdings in Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after buying an additional 122,460 shares during the period. Vanguard Group Inc. lifted its position in Brilliant Earth Group by 13.2% during the third quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after buying an additional 70,833 shares in the last quarter. Two Sigma Investments LP acquired a new position in Brilliant Earth Group during the third quarter valued at approximately $308,000. Finally, Susquehanna International Group LLP grew its stake in Brilliant Earth Group by 257.0% during the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after buying an additional 37,774 shares during the period. 70.41% of the stock is owned by hedge funds and other institutional investors.

Brilliant Earth Group Stock Down 1.3%

Shares of BRLT opened at $1.49 on Thursday. Brilliant Earth Group has a 52 week low of $1.25 and a 52 week high of $3.10. The stock’s 50-day moving average price is $1.72 and its 200-day moving average price is $2.05. The company has a market capitalization of $148.63 million, a price-to-earnings ratio of -49.67 and a beta of 1.41.

About Brilliant Earth Group

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.