Brilliant Earth Group (NASDAQ:BRLT) Trading Down 2.6% – Here’s Why

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) fell 2.6% during trading on Monday . The stock traded as low as $1.11 and last traded at $1.11. 30,058 shares were traded during trading, a decline of 24% from the average session volume of 39,621 shares. The stock had previously closed at $1.14.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brilliant Earth Group presently has a consensus rating of “Reduce” and an average target price of $1.74.

Brilliant Earth Group Trading Down 2.6%

The firm has a 50 day simple moving average of $1.17 and a 200 day simple moving average of $1.35. The firm has a market capitalization of $112.23 million, a PE ratio of -3.58 and a beta of 1.37.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $99.50 million during the quarter, compared to analyst estimates of $98.16 million. Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%. Research analysts forecast that Brilliant Earth Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Brilliant Earth Group in the third quarter worth approximately $32,000. Algert Global LLC bought a new stake in Brilliant Earth Group in the 3rd quarter worth approximately $40,000. Squarepoint Ops LLC purchased a new stake in Brilliant Earth Group during the 3rd quarter valued at $81,000. Millennium Management LLC purchased a new stake in Brilliant Earth Group during the 3rd quarter valued at $84,000. Finally, Susquehanna International Group LLP lifted its holdings in shares of Brilliant Earth Group by 257.0% during the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock valued at $109,000 after buying an additional 37,774 shares during the period. Institutional investors own 70.41% of the company’s stock.

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.