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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has earned a consensus rating of “Reduce” from the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $1.7375.

BRLT has been the subject of several analyst reports. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a report on Friday, March 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $1.85 price target on shares of Brilliant Earth Group in a research note on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. TD Cowen reduced their price objective on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research note on Friday, March 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 target price on shares of Brilliant Earth Group in a report on Monday, March 2nd.

Insider Buying and Selling at Brilliant Earth Group

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

Institutional Trading of Brilliant Earth Group

Several institutional investors have recently added to or reduced their stakes in BRLT. Virtu Financial LLC purchased a new stake in Brilliant Earth Group during the 3rd quarter valued at $32,000. Algert Global LLC bought a new position in shares of Brilliant Earth Group during the third quarter valued at $40,000. Squarepoint Ops LLC bought a new position in shares of Brilliant Earth Group during the third quarter valued at $81,000. Millennium Management LLC purchased a new stake in shares of Brilliant Earth Group during the third quarter valued at $84,000. Finally, Kapitalo Investimentos Ltda boosted its position in shares of Brilliant Earth Group by 234.0% during the third quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock valued at $94,000 after buying an additional 31,851 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Brilliant Earth Group Price Performance

Brilliant Earth Group stock opened at $1.30 on Friday. The company has a market capitalization of $129.68 million, a P/E ratio of -5.42 and a beta of 1.40. The stock’s 50 day moving average is $1.48 and its 200 day moving average is $1.90. Brilliant Earth Group has a twelve month low of $1.23 and a twelve month high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Brilliant Earth Group had a negative net margin of 0.48% and a negative return on equity of 12.33%. The company had revenue of $124.41 million for the quarter, compared to the consensus estimate of $125.33 million. As a group, equities analysts expect that Brilliant Earth Group will post -0.02 EPS for the current year.

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.