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

Key Points

• Short interest jumped 21.3% to 168,745 shares as of March 13, equal to about 1.1% of shares short and a short-interest ratio of 1.5 days, signaling increased bearish bets on BRLT.
• An insider, Sharon Dziesietnik, sold 19,687 shares at $1.37 (a 4.22% reduction of her position), while corporate insiders collectively own 83.90% of the stock.
• Analysts have cut ratings and targets (consensus rating: Reduce, consensus price target: $1.74) after a quarterly earnings miss and continued negative profitability, with the stock trading near its 52‑week low of $1.21.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 168,745 shares, a growth of 21.3% from the February 26th total of 139,128 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 111,814 shares, the short-interest ratio is currently 1.5 days.

Insider Buying and Selling

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 19,687 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total value of $26,971.19. Following the transaction, the insider directly owned 446,736 shares of the company's stock, valued at $612,028.32. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 83.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Brilliant Earth Group

A number of large investors have recently bought and sold shares of BRLT. Squarepoint Ops LLC raised its position in shares of Brilliant Earth Group by 58.0% in the 4th quarter. Squarepoint Ops LLC now owns 62,103 shares of the company's stock worth $109,000 after acquiring an additional 22,793 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Brilliant Earth Group by 11.2% in 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. Potomac Capital Management Inc. acquired a new position in Brilliant Earth Group in the fourth quarter valued at approximately $422,000. Susquehanna International Group LLP lifted its stake in Brilliant Earth Group by 257.0% in the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company's stock valued at $109,000 after buying an additional 37,774 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Brilliant Earth Group during the 3rd quarter worth approximately $84,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on BRLT. B. Riley Financial reissued a "neutral" rating and issued a $1.50 price objective (down from $3.00) on shares of Brilliant Earth Group in a research note on Friday, March 6th. Morgan Stanley downgraded shares of Brilliant Earth Group to a "sector weight" rating in a 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. KeyCorp reiterated a "sector weight" rating on shares of Brilliant Earth Group in a research report on Friday, March 6th. Finally, TD Cowen cut their price target on shares of Brilliant Earth Group from $1.90 to $1.60 and set a "hold" rating on the stock in a report on Friday, March 6th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $1.74.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.21 on Tuesday. The company has a market capitalization of $122.34 million, a PE ratio of -5.04 and a beta of 1.40. The company has a 50 day simple moving average of $1.46 and a two-hundred day simple moving average of $1.87. Brilliant Earth Group has a fifty-two week low of $1.21 and a fifty-two week high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $124.41 million during the quarter, compared to analyst estimates of $125.33 million. Research analysts predict that Brilliant Earth Group will post -0.02 EPS for the current 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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