Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Significant Increase in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 132,500 shares, a growth of 18.6% from the August 31st total of 111,700 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily volume of 39,600 shares, the short-interest ratio is presently 3.3 days.

Institutional Trading of Brilliant Earth Group

A number of hedge funds and other institutional investors have recently modified their holdings of BRLT. Avestar Capital LLC boosted its stake in Brilliant Earth Group by 25.0% during the fourth quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after buying an additional 5,000 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Brilliant Earth Group by 9.2% in the 2nd quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after acquiring an additional 10,000 shares during the last quarter. Privium Fund Management UK Ltd purchased a new position in shares of Brilliant Earth Group during the 2nd quarter worth approximately $28,000. Finally, Virtu Financial LLC acquired a new stake in Brilliant Earth Group in the 1st quarter valued at approximately $56,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Brilliant Earth Group Trading Up 1.5 %

Shares of Brilliant Earth Group stock traded up $0.03 during mid-day trading on Friday, hitting $2.03. The stock had a trading volume of 70,326 shares, compared to its average volume of 44,533. The firm has a market cap of $198.66 million, a P/E ratio of 33.83 and a beta of 1.53. The company has a quick ratio of 2.33, a current ratio of 2.88 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $2.14 and a two-hundred day moving average of $2.39. Brilliant Earth Group has a 12-month low of $1.66 and a 12-month high of $3.81.

Brilliant Earth Group (NASDAQ:BRLT) last posted its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Brilliant Earth Group had a return on equity of 6.48% and a net margin of 0.57%. The company had revenue of $105.43 million during the quarter, compared to analysts’ expectations of $106.52 million. Sell-side analysts forecast that Brilliant Earth Group will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. William Blair downgraded Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 price target on shares of Brilliant Earth Group in a report on Thursday, August 29th.

Brilliant Earth Group Company Profile

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.