Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Decreases By 16.5%

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 50,500 shares, a drop of 16.5% from the March 31st total of 60,500 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 75,100 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group cut Brilliant Earth Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $4.00 to $1.60 in a research report on Tuesday, February 4th. Telsey Advisory Group reiterated a "market perform" rating and issued a $2.00 target price on shares of Brilliant Earth Group in a research report on Tuesday.

Brilliant Earth Group Price Performance

NASDAQ BRLT traded down $0.11 on Tuesday, reaching $1.44. 21,914 shares of the stock traded hands, compared to its average volume of 65,330. Brilliant Earth Group has a 12 month low of $1.25 and a 12 month high of $2.74. The company has a market cap of $143.52 million, a price-to-earnings ratio of 48.15 and a beta of 1.43. The firm's fifty day simple moving average is $1.47 and its 200 day simple moving average is $1.68. The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). Brilliant Earth Group had a net margin of 0.50% and a return on equity of 3.09%. As a group, research analysts predict that Brilliant Earth Group will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sharon Dziesietnik sold 20,792 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.50, for a total value of $31,188.00. Following the transaction, the insider now directly owns 371,329 shares in the company, valued at approximately $556,993.50. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 84.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brilliant Earth Group

Hedge funds have recently modified their holdings of the stock. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Brilliant Earth Group in the 4th quarter valued at $128,000. Klingman & Associates LLC purchased a new stake in Brilliant Earth Group during the fourth quarter valued at about $193,000. Impact Investors Inc purchased a new stake in Brilliant Earth Group during the fourth quarter valued at about $103,000. Boston Partners acquired a new position in shares of Brilliant Earth Group in the fourth quarter worth about $324,000. Finally, Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 129,400 shares of the company's stock worth $272,000 after acquiring an additional 7,400 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company's product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.