Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Drops By 15.1%

Key Points

• Short interest in Brilliant Earth Group fell 15.1% to 143,182 shares as of March 31, equal to about 0.9% of shares sold short and a short-interest ratio of 2.8 days.
• The company missed its quarter, reporting EPS of -$0.06 versus $0.02 expected and revenue of $124.41M versus $125.33M, while analysts have trimmed targets and the consensus rating is "Reduce" with an average target of $1.74.
• An insider sold 19,687 shares (reducing their position by 4.22%), and the article reports notably high ownership figures—insiders at 83.90% and institutional/hedge funds at 70.41%.

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 143,182 shares, a decrease of 15.1% from the March 15th total of 168,745 shares. Based on an average daily volume of 51,670 shares, the short-interest ratio is presently 2.8 days. Currently, 0.9% of the shares of the company are sold short.

Brilliant Earth Group Stock Performance

Shares of Brilliant Earth Group stock traded up $0.01 during trading hours on Friday, hitting $1.40. The company's stock had a trading volume of 870 shares, compared to its average volume of 66,403. The stock has a market cap of $141.96 million, a price-to-earnings ratio of -5.83 and a beta of 1.43. Brilliant Earth Group has a twelve month low of $1.21 and a twelve month high of $3.10. The firm has a fifty day moving average of $1.39 and a 200-day moving average of $1.78.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.08). Brilliant Earth Group had a negative return on equity of 12.33% and a negative net margin of 0.48%.The business had revenue of $124.41 million for the quarter, compared to analyst estimates of $125.33 million. On average, sell-side analysts expect that Brilliant Earth Group will post -0.02 earnings per share for the current fiscal year.

Insider Activity at Brilliant Earth Group

In other news, insider Sharon Dziesietnik sold 19,687 shares of Brilliant Earth Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total transaction of $26,971.19. Following the completion of the transaction, the insider directly owned 446,736 shares of the company's stock, valued at $612,028.32. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 83.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Brilliant Earth Group

Several large investors have recently made changes to their positions in BRLT. Virtu Financial LLC acquired a new stake in Brilliant Earth Group in the 3rd quarter valued at approximately $32,000. Algert Global LLC acquired a new position in Brilliant Earth Group during the third quarter worth $40,000. Squarepoint Ops LLC purchased a new position in shares of Brilliant Earth Group during the third quarter worth $81,000. Millennium Management LLC acquired a new stake in shares of Brilliant Earth Group in the third quarter valued at $84,000. Finally, Kapitalo Investimentos Ltda grew its stake in shares of Brilliant Earth Group by 234.0% in the third quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company's stock valued at $94,000 after buying an additional 31,851 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BRLT. B. Riley Financial restated a "neutral" rating and set a $1.50 target price (down from $3.00) on shares of Brilliant Earth Group in a research report on Friday, March 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Brilliant Earth Group in a research note on Wednesday, January 21st. TD Cowen lowered their price objective on Brilliant Earth Group from $1.90 to $1.60 and set a "hold" rating on the stock in a research note on Friday, March 6th. KeyCorp restated a "sector weight" rating on shares of Brilliant Earth Group in a report on Friday, March 6th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 target price on shares of Brilliant Earth Group in a research note on Monday, March 2nd. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price 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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