Brilliant Earth Group, Inc. (NASDAQ:BRLT) Given Consensus Rating of “Reduce” by Analysts

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been given a consensus recommendation of “Reduce” by the eight brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $1.7375.

BRLT has been the topic of several analyst reports. TD Cowen reduced their price target on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating on the stock in a research report on Friday, March 6th. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 target price on shares of Brilliant Earth Group in a research note on Monday, March 2nd. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a research report on Friday, March 6th. Weiss Ratings lowered Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley cut Brilliant Earth Group to a “sector weight” rating in a report on Friday, March 6th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BRLT. Virtu Financial LLC acquired a new stake in shares of Brilliant Earth Group during the third quarter valued at about $32,000. Algert Global LLC purchased a new stake in Brilliant Earth Group in the third quarter valued at approximately $40,000. Squarepoint Ops LLC acquired a new position in Brilliant Earth Group during the third quarter worth $81,000. Millennium Management LLC acquired a new position in Brilliant Earth Group during the third quarter worth $84,000. Finally, Susquehanna International Group LLP boosted its position in shares of Brilliant Earth Group by 257.0% during the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after buying an additional 37,774 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Stock Performance

Shares of Brilliant Earth Group stock opened at $1.23 on Wednesday. The business’s 50 day moving average price is $1.31 and its 200 day moving average price is $1.51. The company has a market cap of $124.37 million, a price-to-earnings ratio of -3.97 and a beta of 1.36. Brilliant Earth Group has a one year low of $1.11 and a one year high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $99.50 million during the quarter, compared to analysts’ expectations of $98.16 million. Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%. On average, analysts predict that Brilliant Earth Group will post -0.04 EPS for the current fiscal year.

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.