Brilliant Earth Group (NASDAQ:BRLT) Given New $3.00 Price Target at KeyCorp

Brilliant Earth Group (NASDAQ:BRLT) had its target price reduced by KeyCorp from $6.00 to $3.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on BRLT. Telsey Advisory Group reiterated an outperform rating and set a $4.00 target price on shares of Brilliant Earth Group in a research report on Friday, March 15th. TD Cowen cut their price objective on shares of Brilliant Earth Group from $3.40 to $3.00 and set a market perform rating for the company in a report on Friday, March 15th.

Brilliant Earth Group Price Performance

NASDAQ BRLT opened at $2.67 on Monday. The company has a current ratio of 2.66, a quick ratio of 2.17 and a debt-to-equity ratio of 0.57. Brilliant Earth Group has a 12 month low of $2.04 and a 12 month high of $4.29. The stock has a market cap of $261.29 million, a price-to-earnings ratio of 53.41 and a beta of 1.61. The company’s 50 day moving average is $2.83 and its two-hundred day moving average is $2.94.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Thursday, March 14th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a net margin of 0.51% and a return on equity of 7.19%. The company had revenue of $124.30 million for the quarter, compared to analysts’ expectations of $125.10 million. As a group, research analysts anticipate that Brilliant Earth Group will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Brilliant Earth Group

Large investors have recently made changes to their positions in the company. Avestar Capital LLC boosted its stake in Brilliant Earth Group by 25.0% during the fourth quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock valued at $93,000 after buying an additional 5,000 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Brilliant Earth Group by 7.1% during the 3rd quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock worth $354,000 after acquiring an additional 7,920 shares in the last quarter. Finally, Mainsail Management Company LLC purchased a new stake in shares of Brilliant Earth Group during the 3rd quarter worth approximately $94,299,000. 70.41% of the stock is owned by institutional investors.

About Brilliant Earth Group

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