Brilliant Earth Group’s (BRLT) “Neutral” Rating Reaffirmed at B. Riley Financial

Brilliant Earth Group (NASDAQ:BRLT)‘s stock had its “neutral” rating reaffirmed by equities researchers at B. Riley Financial in a report released on Friday,Benzinga reports. They currently have a $1.50 price objective on the stock, down from their previous price objective of $3.00. B. Riley Financial’s price target points to a potential upside of 2.74% from the company’s current price.

BRLT has been the topic of a number of other reports. Morgan Stanley downgraded shares of Brilliant Earth Group to a “sector weight” rating in a research note on Friday. Wall Street Zen downgraded Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Jefferies Financial Group reissued a “hold” rating and set a $1.85 target price on shares of Brilliant Earth Group in a report on Thursday. KeyCorp cut shares of Brilliant Earth Group from an “overweight” rating to a “sector weight” rating in a research note on Friday. Finally, Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a research report on Monday. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $1.78.

Brilliant Earth Group Trading Down 11.5%

Shares of NASDAQ BRLT opened at $1.46 on Friday. The stock has a 50 day moving average of $1.61 and a 200-day moving average of $2.03. The company has a market capitalization of $145.64 million, a P/E ratio of -48.67 and a beta of 1.40. Brilliant Earth Group has a 12 month low of $1.26 and a 12 month high of $3.10.

Insider Activity at Brilliant Earth Group

In other news, insider Sharon Dziesietnik sold 19,687 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total transaction of $26,971.19. Following the completion of the transaction, the insider directly owned 446,736 shares of the company’s stock, valued at $612,028.32. This represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 83.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors have recently added to or reduced their stakes in BRLT. Virtu Financial LLC bought a new stake in Brilliant Earth Group in the third quarter valued at approximately $32,000. Algert Global LLC bought a new position in Brilliant Earth Group during the third quarter valued at approximately $40,000. Squarepoint Ops LLC bought a new stake in shares of Brilliant Earth Group during the 3rd quarter valued at about $81,000. Millennium Management LLC bought a new position in Brilliant Earth Group in the third quarter worth approximately $84,000. Finally, Kapitalo Investimentos Ltda raised its stake in 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 during the period. 70.41% of the stock is currently owned by institutional investors.

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.