Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Down 35.5% in September

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 195,800 shares, a drop of 35.5% from the August 31st total of 303,700 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is currently 0.2 days. Currently, 1.5% of the company’s stock are short sold.

Brilliant Earth Group Stock Down 1.9%

NASDAQ BRLT opened at $2.03 on Monday. Brilliant Earth Group has a fifty-two week low of $1.25 and a fifty-two week high of $3.10. The business has a fifty day moving average of $2.22 and a 200-day moving average of $1.73. The stock has a market cap of $202.50 million, a price-to-earnings ratio of -67.67 and a beta of 1.37.

Brilliant Earth Group Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 22nd. Brilliant Earth Group’s dividend payout ratio (DPR) is currently -833.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 target price on shares of Brilliant Earth Group in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brilliant Earth Group in a research note on Saturday, September 27th. Cowen restated a “hold” rating on shares of Brilliant Earth Group in a research report on Friday, August 8th. Zacks Research raised shares of Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Wall Street Zen upgraded shares of Brilliant Earth Group to a “strong-buy” rating in a research note on Saturday, September 20th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $1.80.

Institutional Investors Weigh In On Brilliant Earth Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of Brilliant Earth Group during the 4th quarter worth $25,000. Millennium Management LLC purchased a new stake in shares of Brilliant Earth Group in the fourth quarter valued at $65,000. Finally, Klingman & Associates LLC increased its stake in Brilliant Earth Group by 61.5% in the second quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock valued at $204,000 after purchasing an additional 56,451 shares during the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company’s product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.