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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 143,445 shares, an increase of 220.9% from the July 30th total of 44,701 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 246,671 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $1.74.

Brilliant Earth Group Price Performance

Shares of Brilliant Earth Group stock traded up $0.02 during midday trading on Friday, reaching $1.33. The company had a trading volume of 37,726 shares, compared to its average volume of 182,870. The stock has a fifty day moving average price of $1.18 and a 200 day moving average price of $1.28. The firm has a market cap of $135.42 million, a PE ratio of -4.59 and a beta of 1.38. Brilliant Earth Group has a fifty-two week low of $1.00 and a fifty-two week high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Thursday, August 6th. The company reported $0.03 earnings per share for the quarter. Brilliant Earth Group had a negative net margin of 0.66% and a negative return on equity of 15.48%. The business had revenue of $115.11 million during the quarter, compared to the consensus estimate of $111.39 million. As a group, sell-side analysts forecast that Brilliant Earth Group will post 0.02 EPS for the current year.

Insider Transactions at Brilliant Earth Group

In related news, Director Gavin Turner sold 50,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 88,356 shares of company stock worth $104,807. 83.20% of the stock is owned by corporate insiders.

Institutional Trading of Brilliant Earth Group

A number of institutional investors have recently bought and sold shares of BRLT. Potomac Capital Management Inc. acquired a new position in shares of Brilliant Earth Group in the 4th quarter valued at about $422,000. Two Sigma Investments LP acquired a new stake in Brilliant Earth Group during the third quarter worth approximately $308,000. Capital World Investors increased its holdings in Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock worth $2,178,000 after purchasing an additional 122,460 shares in the last quarter. Vanguard Group Inc. lifted its stake in Brilliant Earth Group by 13.2% in the third quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after buying an additional 70,833 shares during the period. Finally, Millennium Management LLC acquired a new position in Brilliant Earth Group in the third quarter valued at approximately $84,000. Institutional investors own 70.41% of the company’s stock.

About Brilliant Earth Group

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.