Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Significant Decrease in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totaling 115,140 shares, a decrease of 19.6% from the March 31st total of 143,182 shares. Based on an average trading volume of 29,015 shares, the short-interest ratio is currently 4.0 days. Currently, 0.7% of the company’s shares are short sold.

Insider Transactions at Brilliant Earth Group

In related news, insider Sharon Dziesietnik sold 19,687 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $1.37, for a total transaction of $26,971.19. Following the transaction, the insider owned 446,736 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Insiders own 83.90% of the company’s stock.

Institutional Investors Weigh In On Brilliant Earth Group

Several hedge funds and other institutional investors have recently made changes to their positions in BRLT. Virtu Financial LLC acquired a new stake in shares of Brilliant Earth Group during the 3rd quarter worth about $32,000. Algert Global LLC purchased a new position in Brilliant Earth Group during the 3rd quarter worth approximately $40,000. Squarepoint Ops LLC purchased a new position in Brilliant Earth Group during the 3rd quarter worth approximately $81,000. Millennium Management LLC purchased a new position in Brilliant Earth Group during the 3rd quarter worth approximately $84,000. Finally, Kapitalo Investimentos Ltda grew 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 buying an additional 31,851 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Price Performance

Shares of NASDAQ BRLT traded up $0.06 during midday trading on Friday, hitting $1.55. 30,773 shares of the company’s stock were exchanged, compared to its average volume of 63,674. Brilliant Earth Group has a twelve month low of $1.21 and a twelve month high of $3.10. The company has a market cap of $156.71 million, a PE ratio of -6.46 and a beta of 1.43. The firm’s fifty day simple moving average is $1.37 and its 200-day simple moving average is $1.73.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Thursday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). Brilliant Earth Group had a negative return on equity of 12.33% and a negative net margin of 0.48%.The business had revenue of $124.41 million for the quarter, compared to analyst estimates of $125.33 million. Equities analysts anticipate that Brilliant Earth Group will post -0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BRLT shares. Jefferies Financial Group reissued a “hold” rating and set a $1.85 target price on shares of Brilliant Earth Group in a research note on Thursday, March 5th. B. Riley Financial restated a “neutral” rating and set a $1.50 price target (down from $3.00) on shares of Brilliant Earth Group in a report on Friday, March 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Brilliant Earth Group in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brilliant Earth Group in a research note on Wednesday, January 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a research report on Monday, March 2nd. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $1.74.

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.