Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Declines By 15.1%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 143,182 shares, a drop of 15.1% from the March 15th total of 168,745 shares. Based on an average trading volume of 51,670 shares, the days-to-cover ratio is currently 2.8 days. Currently, 0.9% of the company’s shares are sold short.

Brilliant Earth Group Stock Performance

NASDAQ BRLT traded up $0.01 during trading on Friday, reaching $1.40. The company’s stock had a trading volume of 870 shares, compared to its average volume of 66,403. The business’s fifty day moving average price is $1.39 and its 200-day moving average price is $1.78. Brilliant Earth Group has a twelve month low of $1.21 and a twelve month high of $3.10. The firm has a market cap of $141.96 million, a price-to-earnings ratio of -5.83 and a beta of 1.43.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The company had revenue of $124.41 million for the quarter, compared to analysts’ expectations of $125.33 million. Brilliant Earth Group had a negative return on equity of 12.33% and a negative net margin of 0.48%. As a group, sell-side analysts forecast that Brilliant Earth Group will post -0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BRLT shares. Jefferies Financial Group reissued a “hold” rating and set a $1.85 price target on shares of Brilliant Earth Group in a research report on Thursday, March 5th. TD Cowen cut their price objective on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating on the stock in a report on Friday, March 6th. Morgan Stanley cut Brilliant Earth Group to a “sector weight” rating in a research report on Friday, March 6th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Brilliant Earth Group in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $1.74.

Insider Buying and Selling

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 19,687 shares of Brilliant Earth Group stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $1.37, for a total value of $26,971.19. Following the completion of the transaction, the insider directly owned 446,736 shares of the company’s stock, valued at $612,028.32. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 83.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brilliant Earth Group

Large investors have recently bought and sold shares of the company. Potomac Capital Management Inc. purchased a new stake in Brilliant Earth Group in the 4th quarter valued at approximately $422,000. Two Sigma Investments LP purchased a new stake in shares of Brilliant Earth Group during the 3rd quarter worth approximately $308,000. Capital World Investors grew its holdings in Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after purchasing an additional 122,460 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Brilliant Earth Group by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock worth $1,254,000 after buying an additional 70,833 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Brilliant Earth Group during the 3rd quarter valued at about $84,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

About Brilliant Earth Group

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.