Brokerages Set Brilliant Earth Group, Inc. (NASDAQ:BRLT) Price Target at $1.74

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been given a consensus recommendation of “Reduce” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1.7375.

Separately, Weiss Ratings cut shares of Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 30th.

Brilliant Earth Group Trading Down 1.0%

BRLT opened at $1.04 on Thursday. The stock has a market cap of $105.15 million, a PE ratio of -3.35 and a beta of 1.38. Brilliant Earth Group has a 1 year low of $1.00 and a 1 year high of $3.10. The stock’s 50 day simple moving average is $1.15 and its 200-day simple moving average is $1.32.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%.The firm had revenue of $99.50 million during the quarter, compared to analysts’ expectations of $98.16 million. Equities analysts forecast that Brilliant Earth Group will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Brilliant Earth Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRLT. Virtu Financial LLC acquired a new position in Brilliant Earth Group in the third quarter worth about $32,000. Algert Global LLC acquired a new stake 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 in the 3rd quarter valued at approximately $81,000. Millennium Management LLC bought a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at approximately $84,000. Finally, Susquehanna International Group LLP raised its holdings in shares of Brilliant Earth Group by 257.0% in the 3rd 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 in the last quarter. Institutional investors own 70.41% of the company’s stock.

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.