Brilliant Earth Group, Inc. (NASDAQ:BRLT) Shares Shorted: Short Interest Down 35.5% in September

Key Points

• Short interest fell 35.5% to 103,860 shares as of September 15, representing 0.6% of Brilliant Earth’s outstanding stock and 0.9 days of average trading volume.
• Shares opened at $1.33, near their 50-day and 200-day moving averages. The company reported quarterly revenue of $115.11 million and EPS of $0.03, but still posted a negative net margin and return on equity.
• Analyst sentiment remains cautious, with an average rating of “Reduce” and a consensus price target of $1.74; insiders own 83.2% of the stock, while one director recently sold 50,000 shares.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 103,860 shares, a decline of 35.5% from the August 31st total of 161,041 shares. Based on an average daily volume of 117,592 shares, the short-interest ratio is presently 0.9 days. Currently, 0.6% of the company's stock are sold short.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.33 on Thursday. Brilliant Earth Group has a twelve month low of $1.00 and a twelve month high of $2.90. The company has a market cap of $135.42 million, a PE ratio of -4.59 and a beta of 1.42. The company's 50 day moving average is $1.30 and its two-hundred day moving average is $1.27.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.03 EPS for the quarter. The business had revenue of $115.11 million during the quarter, compared to the consensus estimate of $111.39 million. Brilliant Earth Group had a negative net margin of 0.66% and a negative return on equity of 15.48%. As a group, analysts expect that Brilliant Earth Group will post 0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Brilliant Earth Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $1.74.

Insider Buying and Selling

In other Brilliant Earth Group news, Director Gavin Turner sold 50,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1.29, for a total transaction of $64,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 83.20% of the company's stock.

Institutional Trading of Brilliant Earth Group

A hedge fund recently bought a new stake in Brilliant Earth Group stock. Potomac Capital Management Inc. acquired a new position in Brilliant Earth Group, Inc. (NASDAQ:BRLT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 241,000 shares of the company's stock, valued at approximately $422,000. Potomac Capital Management Inc. owned 0.24% of Brilliant Earth Group at the end of the most recent reporting period. Institutional investors own 70.41% of the company's stock.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc is a digitally native, omnichannel jewelry company that designs and sells engagement rings, wedding bands, fine jewelry and other diamond and gemstone products. The company is known for offering diamonds and gemstones with an emphasis on sourcing transparency, including lab-grown diamonds and recycled precious metals.

Brilliant Earth sells its products through its e-commerce platform and a network of showrooms in the United States. Its services include virtual and in-person consultations, appointment-based shopping, custom jewelry design and tools that allow customers to select and personalize diamonds, gemstones and settings.

The company was founded in 2005 by Beth Gerstein and Eric Grossberg.

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