Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Down 10.9% in April

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 141,200 shares, a decline of 10.9% from the March 31st total of 158,500 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 45,400 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BRLT. KeyCorp cut their target price on Brilliant Earth Group from $6.00 to $3.00 and set an “overweight” rating for the company in a research report on Monday. Telsey Advisory Group restated an “outperform” rating and set a $4.00 price objective on shares of Brilliant Earth Group in a research report on Friday, March 15th. Finally, TD Cowen dropped their target price on shares of Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating on the stock in a report on Friday, March 15th.

Brilliant Earth Group Trading Up 1.1 %

Shares of NASDAQ:BRLT traded up $0.03 during midday trading on Monday, reaching $2.67. The company had a trading volume of 31,338 shares, compared to its average volume of 43,547. The company has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $2.94. The firm has a market cap of $261.29 million, a price-to-earnings ratio of 53.41 and a beta of 1.61. Brilliant Earth Group has a 1-year low of $2.04 and a 1-year high of $4.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.17 and a current ratio of 2.66.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Thursday, March 14th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Brilliant Earth Group had a net margin of 0.51% and a return on equity of 7.19%. The business had revenue of $124.30 million for the quarter, compared to the consensus estimate of $125.10 million. Research analysts predict that Brilliant Earth Group will post 0.01 earnings per share for the current year.

Institutional Trading of Brilliant Earth Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Avestar Capital LLC lifted its stake in Brilliant Earth Group by 25.0% in the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after acquiring an additional 5,000 shares in the last quarter. Federated Hermes Inc. grew its position in Brilliant Earth Group by 7.1% during the third quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock valued at $354,000 after purchasing an additional 7,920 shares in the last quarter. Finally, Mainsail Management Company LLC acquired a new position in Brilliant Earth Group in the 3rd quarter valued at approximately $94,299,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Brilliant Earth Group

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.