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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 100,100 shares, a decline of 15.0% from the November 30th total of 117,800 shares. Based on an average daily trading volume, of 87,900 shares, the short-interest ratio is presently 1.1 days. Currently, 0.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group downgraded Brilliant Earth Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $3.00 to $2.00 in a research report on Thursday, December 19th.

Brilliant Earth Group Price Performance

BRLT traded up $0.01 on Friday, hitting $2.04. 35,548 shares of the stock were exchanged, compared to its average volume of 55,875. The firm has a market capitalization of $201.05 million, a price-to-earnings ratio of 68.02 and a beta of 1.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27. Brilliant Earth Group has a 12 month low of $1.52 and a 12 month high of $3.81. The business has a 50-day moving average of $1.82 and a two-hundred day moving average of $2.03.

Hedge Funds Weigh In On Brilliant Earth Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC increased its stake in Brilliant Earth Group by 166.0% in the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock valued at $28,000 after acquiring an additional 8,300 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Brilliant Earth Group by 9.2% during the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of Brilliant Earth Group in the 2nd quarter valued at $28,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Brilliant Earth Group Company Profile

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