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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 117,800 shares, a drop of 8.0% from the November 15th total of 128,000 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 84,000 shares, the short-interest ratio is currently 1.4 days.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $2.04 on Monday. The company has a market cap of $201.05 million, a price-to-earnings ratio of 68.00 and a beta of 1.68. The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49. Brilliant Earth Group has a 52 week low of $1.52 and a 52 week high of $3.81. The company has a fifty day simple moving average of $1.79 and a two-hundred day simple moving average of $2.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Privium Fund Management UK Ltd acquired a new position in Brilliant Earth Group during the 2nd quarter worth approximately $28,000. Orion Capital Management LLC lifted its position in shares of Brilliant Earth Group by 166.0% during 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 during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Brilliant Earth Group by 9.2% during the 2nd quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after purchasing an additional 10,000 shares during the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 target price on shares of Brilliant Earth Group in a research report on Friday, November 1st.

About Brilliant Earth Group

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.