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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 111,700 shares, a growth of 5.8% from the August 15th total of 105,600 shares. Based on an average trading volume of 37,800 shares, the short-interest ratio is currently 3.0 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BRLT. Virtu Financial LLC acquired a new position in Brilliant Earth Group during the 1st quarter worth approximately $56,000. Avestar Capital LLC boosted its stake in shares of Brilliant Earth Group by 25.0% in the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares during the last quarter. Privium Fund Management UK Ltd bought a new stake in shares of Brilliant Earth Group in the 2nd quarter valued at $28,000. Finally, Renaissance Technologies LLC boosted its stake 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 valued at $262,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BRLT shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 target price on shares of Brilliant Earth Group in a research note on Thursday, August 29th. William Blair lowered Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th.

Brilliant Earth Group Stock Up 6.3 %

NASDAQ:BRLT traded up $0.14 during trading hours on Wednesday, reaching $2.35. The company’s stock had a trading volume of 47,631 shares, compared to its average volume of 44,240. The company has a market cap of $229.97 million, a price-to-earnings ratio of 39.50 and a beta of 1.53. Brilliant Earth Group has a one year low of $1.66 and a one year high of $3.81. The business’s 50-day moving average is $2.16 and its 200-day moving average is $2.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.88 and a quick ratio of 2.33.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly 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 net margin of 0.57% and a return on equity of 6.48%. The firm had revenue of $105.43 million during the quarter, compared to analyst estimates of $106.52 million. Equities research analysts predict that Brilliant Earth Group will post -0.03 EPS for the current year.

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.