Brilliant Earth Group, Inc. (NASDAQ:BRLT) Shares Shorted: Short Interest Down 48.5% in September

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 53,535 shares, a decline of 48.5% from the September 15th total of 103,860 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 33,612 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

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

Brilliant Earth Group Stock Down 1.7%

Brilliant Earth Group stock traded down $0.03 during mid-day trading on Wednesday, reaching $1.43. The company had a trading volume of 34,256 shares, compared to its average volume of 79,654. The firm has a market cap of $145.60 million, a price-to-earnings ratio of -4.93 and a beta of 1.42. The company has a 50 day moving average of $1.36 and a 200-day moving average of $1.28. Brilliant Earth Group has a 52 week low of $1.00 and a 52 week high of $2.90.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. Brilliant Earth Group had a negative net margin of 0.66% and a negative return on equity of 15.48%. The company had revenue of $115.11 million for the quarter, compared to the consensus estimate of $111.39 million. On average, analysts predict that Brilliant Earth Group will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Brilliant Earth Group news, Director Gavin Turner sold 50,000 shares of Brilliant Earth Group stock in a transaction that occurred on Monday, August 10th. The stock was 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 SEC, which is available through this link. 83.20% of the stock is currently owned by corporate insiders.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc is a digitally native, omnichannel fine jewelry company operating under the Brilliant Earth brand. The company sells engagement rings, wedding bands, fine jewelry, and other diamond and gemstone products through its website and a network of showrooms in the United States.

Its product offerings include jewelry featuring natural and lab-grown diamonds, colored gemstones, and precious metals. Brilliant Earth emphasizes customization and provides customers with options related to diamond sourcing, including information about origin and traceability.