Brilliant Earth Group (NASDAQ:BRLT) Stock Price Up 4.2% – Still a Buy?

Brilliant Earth Group, Inc. (NASDAQ:BRLT)’s share price traded up 4.2% during mid-day trading on Monday . The stock traded as high as $1.50 and last traded at $1.48. 18,008 shares were traded during mid-day trading, a decline of 72% from the average session volume of 65,214 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

BRLT has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Brilliant Earth Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $4.00 to $1.60 in a report on Tuesday, February 4th. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price objective on shares of Brilliant Earth Group in a report on Thursday, March 13th.

Brilliant Earth Group Stock Performance

The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $138.15 million, a price-to-earnings ratio of 46.35 and a beta of 1.44. The business has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.72.

Insider Transactions at Brilliant Earth Group

In other news, insider Sharon Dziesietnik sold 20,792 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.50, for a total transaction of $31,188.00. Following the completion of the transaction, the insider now directly owns 371,329 shares of the company’s stock, valued at $556,993.50. This represents a 5.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 84.70% of the company’s stock.

Institutional Investors Weigh In On Brilliant Earth Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRLT. Renaissance Technologies LLC boosted its holdings in Brilliant Earth Group by 6.1% in the 4th quarter. Renaissance Technologies LLC now owns 129,400 shares of the company’s stock valued at $272,000 after purchasing an additional 7,400 shares during the last quarter. Jane Street Group LLC purchased a new position in Brilliant Earth Group during the 4th quarter valued at about $25,000. XTX Topco Ltd acquired a new position in shares of Brilliant Earth Group in the fourth quarter valued at approximately $38,000. Northern Trust Corp increased its position in shares of Brilliant Earth Group by 64.0% during the fourth quarter. Northern Trust Corp now owns 73,024 shares of the company’s stock worth $153,000 after acquiring an additional 28,505 shares during the period. Finally, Millennium Management LLC purchased a new stake in Brilliant Earth Group during the 4th quarter worth about $65,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.