Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Drops By 5.7%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 158,500 shares, a drop of 5.7% from the March 15th total of 168,100 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 45,900 shares, the short-interest ratio is presently 3.5 days.

Brilliant Earth Group Stock Performance

Shares of BRLT stock opened at $2.73 on Thursday. The company’s fifty day moving average price is $2.90 and its 200-day moving average price is $2.95. The stock has a market cap of $267.16 million, a PE ratio of 54.61 and a beta of 1.61. The company has a current ratio of 2.66, a quick ratio of 2.17 and a debt-to-equity ratio of 0.57. Brilliant Earth Group has a 12 month low of $2.04 and a 12 month high of $4.29.

Brilliant Earth Group (NASDAQ:BRLT) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $124.30 million during the quarter, compared to analysts’ expectations of $125.10 million. Brilliant Earth Group had a net margin of 0.51% and a return on equity of 7.19%. On average, equities analysts expect that Brilliant Earth Group will post 0.01 EPS for the current fiscal year.

Institutional Trading of Brilliant Earth Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in Brilliant Earth Group by 166.1% in the fourth quarter. Northern Trust Corp now owns 51,811 shares of the company’s stock worth $193,000 after acquiring an additional 32,338 shares in the last quarter. Avestar Capital LLC boosted 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 purchasing an additional 5,000 shares in the last quarter. Stifel Financial Corp bought a new position in Brilliant Earth Group in the 4th quarter worth about $57,000. Ameriprise Financial Inc. grew its position in Brilliant Earth Group by 0.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 849,367 shares of the company’s stock valued at $2,506,000 after purchasing an additional 5,772 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Brilliant Earth Group by 181.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 35,439 shares of the company’s stock valued at $105,000 after purchasing an additional 22,849 shares in the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price target on shares of Brilliant Earth Group in a research report on Friday, March 15th. TD Cowen reduced their target price on 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.

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.