Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Down 5.7% in March

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 158,500 shares, a decrease of 5.7% from the March 15th total of 168,100 shares. Based on an average daily trading volume, of 45,900 shares, the short-interest ratio is currently 3.5 days. Currently, 1.3% of the shares of the company are sold short.

Brilliant Earth Group Stock Up 1.1 %

Shares of BRLT stock opened at $2.73 on Thursday. Brilliant Earth Group has a twelve month low of $2.04 and a twelve month high of $4.29. The stock has a market cap of $267.16 million, a P/E ratio of 54.61 and a beta of 1.61. The stock has a 50 day moving average of $2.90 and a 200 day moving average of $2.95. The company has a current ratio of 2.66, a quick ratio of 2.17 and a debt-to-equity ratio of 0.57.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a net margin of 0.51% and a return on equity of 7.19%. The firm had revenue of $124.30 million for the quarter, compared to the consensus estimate of $125.10 million. As a group, sell-side analysts expect that Brilliant Earth Group will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Brilliant Earth Group

Several institutional investors and hedge funds have recently modified their holdings of BRLT. Mainsail Management Company LLC purchased a new stake in Brilliant Earth Group in the 3rd quarter worth $94,299,000. Federated Hermes Inc. grew its position in Brilliant Earth Group by 7.1% in the third quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock worth $354,000 after acquiring an additional 7,920 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Brilliant Earth Group by 181.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 35,439 shares of the company’s stock worth $105,000 after purchasing an additional 22,849 shares during the last quarter. Bank of America Corp DE increased its position in shares of Brilliant Earth Group by 4,234.1% during the first quarter. Bank of America Corp DE now owns 9,145 shares of the company’s stock valued at $94,000 after acquiring an additional 8,934 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in Brilliant Earth Group in the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BRLT. Telsey Advisory Group reissued an “outperform” rating and set a $4.00 price target on shares of Brilliant Earth Group in a research report on Friday, March 15th. TD Cowen reduced their target price on shares of Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating for the company in a report on Friday, March 15th.

About Brilliant Earth Group

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.