Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Update

Key Points

• Short interest surged 220.9% in August to 143,445 shares, representing 0.8% of BRLT’s outstanding shares and 0.6 days of average trading volume.
• Brilliant Earth reported quarterly revenue of $115.11 million, exceeding analyst estimates of $111.39 million, and earnings of $0.03 per share. However, the company continues to post a negative net margin and return on equity.
• Shares recently traded near $1.27, while analysts maintain a generally cautious outlook: seven rate the stock Hold and one rates it Sell, resulting in a “Reduce” consensus and a $1.74 average price target.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 143,445 shares, a growth of 220.9% from the July 30th total of 44,701 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 246,671 shares, the short-interest ratio is presently 0.6 days.

Brilliant Earth Group Trading Down 0.4%

Shares of NASDAQ:BRLT traded down $0.01 during trading on Thursday, reaching $1.27. 37,271 shares of the stock were exchanged, compared to its average volume of 80,260. Brilliant Earth Group has a 12 month low of $1.00 and a 12 month high of $3.10. The firm has a market cap of $129.82 million, a PE ratio of -4.40 and a beta of 1.38. The stock has a 50-day moving average price of $1.17 and a 200-day moving average price of $1.28.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $115.11 million for the quarter, compared to analyst estimates of $111.39 million. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%. On average, sell-side analysts expect that Brilliant Earth Group will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Brilliant Earth Group

In other news, Director Gavin Turner sold 50,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 88,356 shares of company stock worth $104,807. 83.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Brilliant Earth Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Brilliant Earth Group by 13.2% during the third quarter. Vanguard Group Inc. now owns 605,770 shares of the company's stock worth $1,254,000 after acquiring an additional 70,833 shares during the period. Capital World Investors increased its holdings in shares of Brilliant Earth Group by 13.2% during the third quarter. Capital World Investors now owns 1,052,309 shares of the company's stock worth $2,178,000 after purchasing an additional 122,460 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Brilliant Earth Group in the third quarter valued at approximately $81,000. Two Sigma Investments LP acquired a new stake in shares of Brilliant Earth Group in the third quarter valued at approximately $308,000. Finally, Virtu Financial LLC bought a new stake in shares of Brilliant Earth Group in the third quarter valued at approximately $32,000. Institutional investors own 70.41% of the company's stock.

Analysts Set New Price Targets

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

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc NASDAQ: BRLT is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.

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