Credit Suisse Group Cuts Brilliant Earth Group (NASDAQ:BRLT) Price Target to $8.00

Brilliant Earth Group (NASDAQ:BRLT – Get Rating) had its target price cut by Credit Suisse Group from $10.00 to $8.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on BRLT. Piper Sandler lowered their target price on shares of Brilliant Earth Group from $7.50 to $6.00 in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Brilliant Earth Group from $6.00 to $5.00 and set a neutral rating for the company in a report on Thursday. Raymond James decreased their price target on shares of Brilliant Earth Group from $9.00 to $7.00 and set an outperform rating for the company in a report on Thursday. Telsey Advisory Group decreased their price target on shares of Brilliant Earth Group from $12.00 to $8.00 and set an outperform rating for the company in a report on Thursday, March 9th. Finally, KeyCorp decreased their price target on shares of Brilliant Earth Group from $10.00 to $8.00 and set an overweight rating for the company in a report on Monday, January 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brilliant Earth Group currently has a consensus rating of Moderate Buy and a consensus target price of $7.50.

Brilliant Earth Group Stock Performance

BRLT stock opened at $3.92 on Thursday. The company has a 50 day moving average price of $4.91 and a 200 day moving average price of $5.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.62 and a quick ratio of 2.10. Brilliant Earth Group has a fifty-two week low of $3.60 and a fifty-two week high of $11.21. The stock has a market capitalization of $374.36 million, a PE ratio of 24.50 and a beta of 1.83.

Institutional Investors Weigh In On Brilliant Earth Group

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Brilliant Earth Group in the 1st quarter valued at about $38,000. UBS Group AG raised its holdings in shares of Brilliant Earth Group by 6,047.0% in the 4th quarter. UBS Group AG now owns 6,147 shares of the company’s stock valued at $26,000 after purchasing an additional 6,047 shares during the period. Orion Capital Management LLC raised its holdings in shares of Brilliant Earth Group by 200.0% in the 4th quarter. Orion Capital Management LLC now owns 9,000 shares of the company’s stock valued at $39,000 after purchasing an additional 6,000 shares during the period. Bank of America Corp DE raised its holdings in shares of Brilliant Earth Group by 4,234.1% in the 1st quarter. Bank of America Corp DE now owns 9,145 shares of the company’s stock valued at $94,000 after purchasing an additional 8,934 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Brilliant Earth Group in the 4th quarter valued at about $43,000. 6.76% of the stock is owned by institutional investors.

About Brilliant Earth Group

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Brilliant Earth Group, Inc engages in the design, procurement, and retail sale of 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.