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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has received an average rating of “Reduce” from the eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $1.7375.

Separately, Weiss Ratings lowered shares of Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th.

Brilliant Earth Group Stock Performance

Brilliant Earth Group stock opened at $1.14 on Friday. The company has a 50-day simple moving average of $1.23 and a 200-day simple moving average of $1.42. Brilliant Earth Group has a one year low of $1.00 and a one year high of $3.10. The firm has a market capitalization of $115.27 million, a P/E ratio of -3.68 and a beta of 1.37.

Brilliant Earth Group (NASDAQ:BRLT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%.The business had revenue of $99.50 million during the quarter, compared to the consensus estimate of $98.16 million. As a group, sell-side analysts forecast that Brilliant Earth Group will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its stake in shares of Brilliant Earth Group by 13.2% during the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after acquiring an additional 122,460 shares during the period. Vanguard Group Inc. grew its stake in shares of Brilliant Earth Group by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock worth $1,254,000 after purchasing an additional 70,833 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Brilliant Earth Group in the 4th quarter worth approximately $422,000. Renaissance Technologies LLC lifted its stake in Brilliant Earth Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock valued at $382,000 after purchasing an additional 22,000 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Brilliant Earth Group during the third quarter valued at approximately $308,000. 70.41% of the stock is currently owned by institutional investors.

Brilliant Earth Group Company Profile

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.