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

Key Points

• Brilliant Earth Group received a consensus “Reduce” rating from eight analysts, with seven recommending hold and one recommending sell. The average 12-month price target is $1.7375.
• BRLT shares opened at $1.10, down 2.7%, near their 52-week low of $1.00 and below the 50-day and 200-day moving averages.
• The company matched quarterly EPS expectations at a loss of $0.05 while reporting revenue of $99.5 million, slightly above forecasts; analysts expect a full-year loss of $0.04 per share.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) has received a consensus rating of "Reduce" from the eight analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $1.7375.

Separately, Weiss Ratings upgraded shares of Brilliant Earth Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, July 14th.

Hedge Funds Weigh In On Brilliant Earth Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in shares of Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company's stock valued at $2,178,000 after purchasing an additional 122,460 shares during the period. Vanguard Group Inc. grew its position in shares of Brilliant Earth Group by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company's stock worth $1,254,000 after buying an additional 70,833 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Brilliant Earth Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company's stock valued at $382,000 after acquiring an additional 22,000 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Brilliant Earth Group in the third quarter worth about $308,000. Finally, Susquehanna International Group LLP grew its holdings in Brilliant Earth Group by 257.0% during the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company's stock worth $109,000 after acquiring an additional 37,774 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors.

Brilliant Earth Group Stock Down 2.7%

Shares of BRLT opened at $1.10 on Thursday. The business has a fifty day moving average of $1.16 and a 200 day moving average of $1.34. The company has a market cap of $111.22 million, a PE ratio of -3.55 and a beta of 1.37. Brilliant Earth Group has a 52-week low of $1.00 and a 52-week high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). Brilliant Earth Group had a negative net margin of 0.71% and a negative return on equity of 18.23%. The firm had revenue of $99.50 million during the quarter, compared to analysts' expectations of $98.16 million. As a group, research analysts anticipate that Brilliant Earth Group will post -0.04 earnings per share for the current fiscal 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.

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