Jennifer Noel Harris Sells 18,336 Shares of Brilliant Earth Group (NASDAQ:BRLT) Stock

Brilliant Earth Group, Inc. (NASDAQ:BRLT) Director Jennifer Noel Harris sold 18,336 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $1.03, for a total transaction of $18,886.08. Following the completion of the sale, the director directly owned 213,966 shares in the company, valued at approximately $220,384.98. This trade represents a 7.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jennifer Noel Harris also recently made the following trade(s):

• On Thursday, June 18th, Jennifer Noel Harris sold 20,020 shares of Brilliant Earth Group stock. The stock was sold at an average price of $1.07, for a total transaction of $21,421.40.

Brilliant Earth Group Trading Up 10.5%

Shares of NASDAQ:BRLT opened at $1.16 on Thursday. Brilliant Earth Group, Inc. has a 52 week low of $1.01 and a 52 week high of $3.10. The company’s 50 day moving average is $1.27 and its two-hundred day moving average is $1.46. The company has a market cap of $117.29 million, a PE ratio of -3.74 and a beta of 1.36.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $99.50 million during the quarter, compared to analysts’ expectations of $98.16 million. Brilliant Earth Group had a negative net margin of 0.71% and a negative return on equity of 18.23%. As a group, equities research analysts expect that Brilliant Earth Group, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Brilliant Earth Group

Several hedge funds and other institutional investors have recently bought and sold shares of BRLT. Virtu Financial LLC purchased a new stake in Brilliant Earth Group in the third quarter valued at $32,000. Algert Global LLC purchased a new position in shares of Brilliant Earth Group during the third quarter worth about $40,000. Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $382,000 after purchasing an additional 22,000 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Brilliant Earth Group by 58.0% during the fourth quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock worth $109,000 after purchasing an additional 22,793 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position in shares of 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 purchasing an additional 37,774 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BRLT. TD Cowen decreased their price target on Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a report on Friday, March 6th. Morgan Stanley downgraded Brilliant Earth Group to a “sector weight” rating in a report on Friday, March 6th. Weiss Ratings raised Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 target price on shares of Brilliant Earth Group in a research note on Monday, March 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $1.85 price target on shares of Brilliant Earth Group in a report on Thursday, March 5th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price 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.