Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Average Recommendation of “Reduce” from Brokerages

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has earned a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $1.7375.

Separately, Weiss Ratings raised Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.33 on Monday. The firm has a market capitalization of $135.42 million, a price-to-earnings ratio of -4.59 and a beta of 1.38. The firm’s fifty day simple moving average is $1.18 and its 200 day simple moving average is $1.28. Brilliant Earth Group has a twelve month low of $1.00 and a twelve month high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%.The firm had revenue of $115.11 million during the quarter, compared to the consensus estimate of $111.39 million. On average, analysts predict that Brilliant Earth Group will post 0.02 earnings per share for the current year.

Insider Activity at Brilliant Earth Group

In related news, Director Gavin Turner sold 50,000 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 88,356 shares of company stock worth $104,807. Company insiders own 83.20% of the company’s stock.

Institutional Trading of Brilliant Earth Group

Several large investors have recently bought and sold shares of BRLT. Renaissance Technologies LLC boosted its stake in shares of Brilliant Earth Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock valued at $382,000 after purchasing an additional 22,000 shares during the period. Susquehanna International Group LLP increased its stake in Brilliant Earth Group by 257.0% during the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after buying an additional 37,774 shares during the period. Two Sigma Investments LP purchased a new stake in Brilliant Earth Group during the 3rd quarter worth $308,000. Capital World Investors increased its stake in Brilliant Earth Group by 13.2% during the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock worth $2,178,000 after buying an additional 122,460 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Brilliant Earth Group by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock worth $1,254,000 after buying an additional 70,833 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Brilliant Earth Group

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.