Brilliant Earth Group, Inc. (NASDAQ:BRLT) Stock Short Interest Declines 48.5%

Key Points

• Short interest fell 48.5% to 53,535 shares as of September 30, representing about 0.3% of Brilliant Earth’s outstanding stock and 1.6 days of average trading volume.
• Analyst sentiment remains cautious: seven analysts rate the stock Hold and one rates it Sell, producing an overall “Reduce” rating and an average price target of $1.74.
• BRLT traded at $1.43, with a market capitalization of $145.6 million. The company reported quarterly revenue of $115.11 million, above estimates, but continues to post negative profitability metrics; an insider also sold 50,000 shares in August.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 53,535 shares, a decline of 48.5% from the September 15th total of 103,860 shares. Based on an average daily trading volume, of 33,612 shares, the short-interest ratio is presently 1.6 days. Approximately 0.3% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

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

Brilliant Earth Group Price Performance

NASDAQ:BRLT traded down $0.03 during midday trading on Wednesday, reaching $1.43. The stock had a trading volume of 34,256 shares, compared to its average volume of 79,654. The stock has a market capitalization of $145.60 million, a P/E ratio of -4.93 and a beta of 1.42. Brilliant Earth Group has a 1-year low of $1.00 and a 1-year high of $2.90. The firm's fifty day simple moving average is $1.36 and its 200-day simple moving average is $1.28.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.03 earnings per share for the quarter. Brilliant Earth Group had a negative net margin of 0.66% and a negative return on equity of 15.48%. The firm had revenue of $115.11 million during the quarter, compared to analyst estimates of $111.39 million. On average, equities research analysts anticipate 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 stock was sold at an average price of $1.29, for a total transaction of $64,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 83.20% of the stock is owned by corporate insiders.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc is a digitally native, omnichannel fine jewelry company operating under the Brilliant Earth brand. The company sells engagement rings, wedding bands, fine jewelry, and other diamond and gemstone products through its website and a network of showrooms in the United States.

Its product offerings include jewelry featuring natural and lab-grown diamonds, colored gemstones, and precious metals. Brilliant Earth emphasizes customization and provides customers with options related to diamond sourcing, including information about origin and traceability.

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