Brilliant Earth Group (NASDAQ:BRLT) Rating Lowered to “Market Perform” at Telsey Advisory Group

Brilliant Earth Group (NASDAQ:BRLT) was downgraded by Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday,Finviz reports. They currently have a $2.00 price target on the stock. Telsey Advisory Group’s target price indicates a potential upside of 2.56% from the stock’s previous close.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.95 on Thursday. Brilliant Earth Group has a twelve month low of $1.52 and a twelve month high of $3.81. The company has a market cap of $192.18 million, a P/E ratio of 65.02 and a beta of 1.68. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $1.79 and its 200-day moving average price is $2.04.

Hedge Funds Weigh In On Brilliant Earth Group

A number of hedge funds have recently made changes to their positions in the stock. Privium Fund Management UK Ltd purchased a new stake in Brilliant Earth Group during the 2nd quarter worth approximately $28,000. Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 9.2% during the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after acquiring an additional 10,000 shares during the period. Finally, Orion Capital Management LLC raised its stake in shares of Brilliant Earth Group by 166.0% in the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock valued at $28,000 after acquiring an additional 8,300 shares in the last quarter. Hedge funds and other institutional investors 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. 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.