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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 143,445 shares, an increase of 220.9% from the July 30th total of 44,701 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 246,671 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Brilliant Earth Group currently has a consensus rating of “Reduce” and an average target price of $1.74.

Insider Activity

In related news, Director Gavin Turner sold 50,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 88,356 shares of company stock worth $104,807. Corporate insiders own 83.20% of the company’s stock.

Hedge Funds Weigh In On Brilliant Earth Group

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

Brilliant Earth Group Stock Performance

Shares of Brilliant Earth Group stock traded down $0.01 during trading on Thursday, reaching $1.27. 37,271 shares of the company’s stock were exchanged, compared to its average volume of 80,260. Brilliant Earth Group has a 1-year low of $1.00 and a 1-year high of $3.10. The company has a market cap of $129.82 million, a P/E ratio of -4.40 and a beta of 1.38. The firm’s 50-day moving average price is $1.17 and its 200 day moving average price is $1.28.

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

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.