Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Update

Key Points

• Brilliant Earth Group, Inc. (NASDAQ:BRLT) experienced a significant decline in short interest, dropping 29% from 195,800 to 139,100 shares between mid-September and the end of September.
• Klingman & Associates LLC has increased its stake in Brilliant Earth Group by 61.5% in the second quarter, now owning 0.15% of the company, contributing to a total institutional ownership of 70.41%.
• The company declared a $0.25 dividend paid on September 8, with the stock opening at $2.50 and analysts maintaining a mixed outlook with an average price target of $2.20.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 139,100 shares, a drop of 29.0% from the September 15th total of 195,800 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Trading of Brilliant Earth Group

A hedge fund recently raised its stake in Brilliant Earth Group stock. Klingman & Associates LLC increased its stake in Brilliant Earth Group, Inc. (NASDAQ:BRLT - Free Report) by 61.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,273 shares of the company's stock after acquiring an additional 56,451 shares during the quarter. Klingman & Associates LLC owned 0.15% of Brilliant Earth Group worth $204,000 at the end of the most recent reporting period. Institutional investors own 70.41% of the company's stock.

Brilliant Earth Group Stock Performance

Shares of NASDAQ BRLT opened at $2.50 on Thursday. The company has a market capitalization of $249.38 million, a P/E ratio of -83.33 and a beta of 1.37. Brilliant Earth Group has a 52-week low of $1.25 and a 52-week high of $3.10. The company's 50 day moving average price is $2.43 and its 200-day moving average price is $1.81.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last released its quarterly earnings data on Wednesday, June 12th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $97.70 million during the quarter. Brilliant Earth Group had a net margin of 0.44% and a negative return on equity of 1.57%. Analysts forecast that Brilliant Earth Group will post -0.02 earnings per share for the current year.

Brilliant Earth Group Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 22nd were paid a $0.25 dividend. The ex-dividend date was Friday, August 22nd.

Analyst Ratings Changes

A number of equities analysts recently commented on BRLT shares. Zacks Research raised shares of Brilliant Earth Group from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $2.00 price target on shares of Brilliant Earth Group in a research report on Thursday, August 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Brilliant Earth Group in a report on Wednesday, October 8th. Cowen reiterated a "hold" rating on shares of Brilliant Earth Group in a research report on Friday, August 8th. Finally, B. Riley initiated coverage on shares of Brilliant Earth Group in a research report on Tuesday, October 7th. They set a "buy" rating and a $3.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $2.20.

About Brilliant Earth Group

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.

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