Wall Street Zen Upgrades Brilliant Earth Group (NASDAQ:BRLT) to "Strong-Buy"

Key Points

• Brilliant Earth Group (NASDAQ:BRLT) received a significant upgrade to a "strong-buy" rating from Wall Street Zen, indicating positive sentiment among analysts.
• Despite this upgrade, the stock has recently experienced a decline of 8.2% and currently trades at around $2.47, with a market cap of approximately $246.38 million.
• Institutional investors hold a substantial share of the company, owning 70.41% of the stock, with recent investments reflecting a shift in confidence in Brilliant Earth Group.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "strong-buy" rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Brilliant Earth Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $2.00 target price on shares of Brilliant Earth Group in a report on Thursday, August 7th. Finally, Cowen reissued a "hold" rating on shares of Brilliant Earth Group in a report on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $1.80.

Brilliant Earth Group Stock Performance

Shares of NASDAQ BRLT traded down $0.05 during mid-day trading on Friday, hitting $2.43. 114,349 shares of the stock traded hands, compared to its average volume of 441,794. Brilliant Earth Group has a 52 week low of $1.25 and a 52 week high of $3.10. The company has a market cap of $241.89 million, a price-to-earnings ratio of -80.73 and a beta of 1.44. The stock has a fifty day moving average price of $2.10 and a 200-day moving average price of $1.68.

Institutional Trading of Brilliant Earth Group

A number of hedge funds have recently bought and sold shares of the stock. Klingman & Associates LLC increased its holdings in shares of Brilliant Earth Group by 61.5% during the 2nd quarter. Klingman & Associates LLC now owns 148,273 shares of the company's stock worth $204,000 after purchasing an additional 56,451 shares during the period. Millennium Management LLC bought a new stake in Brilliant Earth Group in the 4th quarter valued at $65,000. Northern Trust Corp raised 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 buying an additional 28,505 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Brilliant Earth Group in the 4th quarter valued at $25,000. 70.41% of the stock is owned by institutional investors.

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.