Brilliant Earth Group (NASDAQ:BRLT) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research has upgraded Brilliant Earth Group (NASDAQ: BRLT) from a "strong sell" to a "hold" rating, reflecting a shift in analyst sentiment towards the company's stock.
• Brilliant Earth Group currently holds a consensus rating of "Hold" with an average price target of $1.80, while its recent stock price opened at $2.38.
• Institutional investors now account for 70.41% of the company’s stock, indicating a strong interest from larger investment entities in Brilliant Earth Group.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently issued reports on BRLT. Cowen reiterated a "hold" rating on shares of Brilliant Earth Group in a research note on Friday, August 8th. Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price target on shares of Brilliant Earth Group in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Brilliant Earth Group has an average rating of "Hold" and a consensus price target of $1.80.

Brilliant Earth Group Stock Down 8.2%

Brilliant Earth Group stock traded down $0.22 during mid-day trading on Monday, hitting $2.47. 118,719 shares of the company's stock traded hands, compared to its average volume of 272,739. Brilliant Earth Group has a one year low of $1.25 and a one year high of $3.10. The firm has a 50 day moving average price of $2.10 and a 200 day moving average price of $1.68. The company has a market cap of $246.39 million, a PE ratio of -82.33 and a beta of 1.45.

Hedge Funds Weigh In On Brilliant Earth Group

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in shares of Brilliant Earth Group in the 4th quarter worth about $25,000. Millennium Management LLC purchased a new stake in shares of Brilliant Earth Group in the 4th quarter valued at $65,000. Northern Trust Corp lifted its stake in shares of Brilliant Earth Group by 64.0% in the 4th quarter. Northern Trust Corp now owns 73,024 shares of the company's stock valued at $153,000 after purchasing an additional 28,505 shares during the period. Finally, Klingman & Associates LLC lifted its stake in shares of Brilliant Earth Group by 61.5% in the 2nd quarter. Klingman & Associates LLC now owns 148,273 shares of the company's stock valued at $204,000 after purchasing an additional 56,451 shares during the period. 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.