Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Consensus Recommendation of “Reduce” from Brokerages

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has received a consensus rating of “Reduce” from the eight analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $1.7375.

Separately, Weiss Ratings raised shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th.

Brilliant Earth Group Trading Up 3.6%

BRLT stock opened at $1.43 on Friday. The stock has a market cap of $145.60 million, a PE ratio of -4.93 and a beta of 1.42. Brilliant Earth Group has a 12 month low of $1.00 and a 12 month high of $2.90. The company has a 50-day moving average price of $1.26 and a 200 day moving average price of $1.27.

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

Insider Activity at Brilliant Earth Group

In related news, Director Gavin Turner sold 50,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $1.29, for a total transaction of $64,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 83.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Brilliant Earth Group stock. Potomac Capital Management Inc. purchased a new stake in Brilliant Earth Group, Inc. (NASDAQ:BRLT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 241,000 shares of the company’s stock, valued at approximately $422,000. Potomac Capital Management Inc. owned about 0.24% of Brilliant Earth Group as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 70.41% of the company’s stock.

About Brilliant Earth Group

Brilliant Earth Group, Inc is a digitally native, omnichannel jewelry company that designs and sells engagement rings, wedding bands, fine jewelry and other diamond and gemstone products. The company is known for offering diamonds and gemstones with an emphasis on sourcing transparency, including lab-grown diamonds and recycled precious metals.

Brilliant Earth sells its products through its e-commerce platform and a network of showrooms in the United States. Its services include virtual and in-person consultations, appointment-based shopping, custom jewelry design and tools that allow customers to select and personalize diamonds, gemstones and settings.

The company was founded in 2005 by Beth Gerstein and Eric Grossberg.