Brilliant Earth Group (NASDAQ:BRLT) Stock Price Up 3.1% – What’s Next?

Brilliant Earth Group, Inc. (NASDAQ:BRLT)’s stock price shot up 3.1% during mid-day trading on Friday . The stock traded as high as $2.04 and last traded at $1.99. 36,741 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 54,578 shares. The stock had previously closed at $1.93.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 price target on shares of Brilliant Earth Group in a research note on Friday, November 1st. William Blair downgraded shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Brilliant Earth Group Trading Up 3.1 %

The company has a market capitalization of $196.12 million, a PE ratio of 66.33 and a beta of 1.68. The company’s fifty day moving average is $1.78 and its 200-day moving average is $2.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27.

Hedge Funds Weigh In On Brilliant Earth Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 9.2% in the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after buying an additional 10,000 shares in the last quarter. Orion Capital Management LLC lifted its stake in Brilliant Earth Group by 166.0% in the 3rd quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new stake in Brilliant Earth Group in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company’s product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.