Brilliant Earth Group (NASDAQ:BRLT) Receives "Market Perform" Rating from Telsey Advisory Group

Key Points

• Telsey Advisory Group has reiterated a "market perform" rating for Brilliant Earth Group (NASDAQ:BRLT) with a price target of $2.00, indicating a potential upside of 6.21% from the stock's previous close.
• Brilliant Earth Group's stock experienced significant trading activity, rising 36.4% to $1.88, with over 59 million shares traded compared to its average volume of 457,507.
• The company reported earnings per share of ($0.11) for the recent quarter, missing expectations by $0.10, and analysts predict an EPS of -0.02 for the current year.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report)'s stock had its "market perform" rating reissued by equities researchers at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $2.00 target price on the stock. Telsey Advisory Group's price objective indicates a potential upside of 14.94% from the stock's current price.

Brilliant Earth Group Stock Down 0.6%

Shares of NASDAQ BRLT traded down $0.01 during trading on Thursday, hitting $1.74. The company had a trading volume of 473,669 shares, compared to its average volume of 3,119,754. The firm has a market capitalization of $172.80 million, a price-to-earnings ratio of -58.00 and a beta of 1.35. Brilliant Earth Group has a fifty-two week low of $1.25 and a fifty-two week high of $2.73. The stock has a fifty day simple moving average of $1.47 and a two-hundred day simple moving average of $1.49.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors have recently bought and sold shares of BRLT. Jane Street Group LLC purchased a new stake in shares of Brilliant Earth Group in the 4th quarter valued at approximately $25,000. XTX Topco Ltd acquired a new position in Brilliant Earth Group during the 4th quarter worth approximately $38,000. Millennium Management LLC acquired a new position in Brilliant Earth Group during the 4th quarter worth approximately $65,000. Mariner LLC acquired a new position in Brilliant Earth Group during the 4th quarter worth approximately $105,000. Finally, Northern Trust Corp lifted its position in Brilliant Earth Group by 64.0% in the fourth quarter. Northern Trust Corp now owns 73,024 shares of the company's stock valued at $153,000 after acquiring an additional 28,505 shares during the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

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.