Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Decline in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 44,701 shares, a decrease of 70.3% from the July 15th total of 150,305 shares. Based on an average daily volume of 45,457 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $1.74.

Insiders Place Their Bets

In other Brilliant Earth Group news, Director Gavin Turner sold 50,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $1.29, for a total value of $64,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 88,356 shares of company stock worth $104,807. 83.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its holdings in shares of Brilliant Earth Group by 13.2% in the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after buying an additional 122,460 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Brilliant Earth Group by 13.2% during the third 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. purchased a new position in Brilliant Earth Group during the 4th quarter worth $422,000. Renaissance Technologies LLC boosted its holdings in shares of Brilliant Earth Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock valued at $382,000 after acquiring an additional 22,000 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Brilliant Earth Group during the third quarter worth about $308,000. 70.41% of the stock is owned by institutional investors and hedge funds.

Brilliant Earth Group Trading Down 1.5%

Shares of BRLT opened at $1.31 on Thursday. Brilliant Earth Group has a twelve month low of $1.00 and a twelve month high of $3.10. The firm’s fifty day simple moving average is $1.15 and its 200-day simple moving average is $1.30. The firm has a market capitalization of $132.45 million, a price-to-earnings ratio of -4.52 and a beta of 1.38.

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