Brilliant Earth Group, Inc. (NASDAQ:BRLT) Shares Shorted: Short Interest Down 35.5% in September

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 103,860 shares, a drop of 35.5% from the August 31st total of 161,041 shares. Based on an average daily volume of 117,592 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brilliant Earth Group currently has a consensus rating of “Reduce” and an average target price of $1.74.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.39 on Friday. The stock has a 50-day simple moving average of $1.30 and a 200-day simple moving average of $1.27. The stock has a market cap of $141.53 million, a P/E ratio of -4.79 and a beta of 1.42. Brilliant Earth Group has a 1 year low of $1.00 and a 1 year high of $2.90.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Thursday, August 6th. The company reported $0.03 earnings per share for the quarter. The business had revenue of $115.11 million for the quarter, compared to analyst estimates of $111.39 million. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%. On average, equities research analysts predict that Brilliant Earth Group will post 0.02 EPS for the current year.

Insider Buying and Selling at Brilliant Earth Group

In related news, Director Gavin Turner sold 50,000 shares of Brilliant Earth Group stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 83.20% of the company’s stock.

Institutional Trading of Brilliant Earth Group

An institutional investor recently bought a new position in Brilliant Earth Group stock. Potomac Capital Management Inc. acquired a new position in shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 241,000 shares of the company’s stock, valued at approximately $422,000. Potomac Capital Management Inc. owned about 0.24% of Brilliant Earth Group at the end of the most recent quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

About Brilliant Earth Group

Brilliant Earth Group, Inc is a digitally native, omnichannel jewelry company that designs and sells engagement rings, wedding bands, fine jewelry and other diamond and gemstone products. The company is known for offering diamonds and gemstones with an emphasis on sourcing transparency, including lab-grown diamonds and recycled precious metals.

Brilliant Earth sells its products through its e-commerce platform and a network of showrooms in the United States. Its services include virtual and in-person consultations, appointment-based shopping, custom jewelry design and tools that allow customers to select and personalize diamonds, gemstones and settings.

The company was founded in 2005 by Beth Gerstein and Eric Grossberg.