Brilliant Earth Group (NASDAQ:BRLT) Upgraded by Wall Street Zen to Strong-Buy Rating

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 equities research analysts at Wall Street Zen to a "strong-buy" rating in a report released on Saturday.

Several other brokerages also recently commented on BRLT. Zacks Research raised Brilliant Earth Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Cowen restated a "hold" rating on shares of Brilliant Earth Group in a research report on Friday, August 8th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $2.00 price objective on shares of Brilliant Earth Group in a research report on Thursday, August 7th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $1.80.

Brilliant Earth Group Stock Up 1.3%

Shares of NASDAQ BRLT traded up $0.03 during mid-day trading on Friday, hitting $2.38. 15,344 shares of the company traded hands, compared to its average volume of 439,659. Brilliant Earth Group has a 1 year low of $1.25 and a 1 year high of $3.10. The stock has a market capitalization of $237.41 million, a price-to-earnings ratio of -79.50 and a beta of 1.44. The business has a 50 day moving average of $2.11 and a two-hundred day moving average of $1.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Brilliant Earth Group during the fourth quarter worth about $25,000. Millennium Management LLC bought a new stake in Brilliant Earth Group in the fourth quarter valued at approximately $65,000. Northern Trust Corp raised its stake 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 buying an additional 28,505 shares during the period. Finally, Klingman & Associates LLC raised its stake in Brilliant Earth Group by 61.5% in the second quarter. Klingman & Associates LLC now owns 148,273 shares of the company's stock valued at $204,000 after buying an additional 56,451 shares during the period. 70.41% of the stock is owned by institutional investors and hedge funds.

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.