Brilliant Earth Group (NASDAQ:BRLT) Stock Price Down 2.6% – What’s Next?

Brilliant Earth Group, Inc. (NASDAQ:BRLT)’s share price dropped 2.6% during mid-day trading on Monday . The stock traded as low as $1.11 and last traded at $1.11. Approximately 30,058 shares were traded during trading, a decline of 24% from the average daily volume of 39,621 shares. The stock had previously closed at $1.14.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $1.74.

Brilliant Earth Group Price Performance

The company has a market cap of $111.22 million, a price-to-earnings ratio of -3.55 and a beta of 1.37. The stock has a 50-day moving average price of $1.17 and a 200 day moving average price of $1.34.

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, meeting the consensus estimate of ($0.05). The business had revenue of $99.50 million during the quarter, compared to analyst estimates of $98.16 million. Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%. Sell-side analysts expect that Brilliant Earth Group, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Brilliant Earth Group

Several large investors have recently made changes to their positions in BRLT. Potomac Capital Management Inc. bought a new stake in Brilliant Earth Group in the 4th quarter valued at $422,000. Two Sigma Investments LP acquired a new position in Brilliant Earth Group in the 3rd quarter worth $308,000. Capital World Investors increased its holdings in Brilliant Earth Group by 13.2% during the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock worth $2,178,000 after purchasing an additional 122,460 shares in the last quarter. Vanguard Group Inc. increased its holdings in Brilliant Earth Group by 13.2% during 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 in the last quarter. Finally, Millennium Management LLC bought a new position in Brilliant Earth Group during the 3rd quarter worth about $84,000. Institutional investors own 70.41% of the company’s stock.

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.