Brilliant Earth Group (NASDAQ:BRLT) Trading Down 0.5% – Here’s Why

Brilliant Earth Group, Inc. (NASDAQ:BRLT)’s stock price dropped 0.5% during mid-day trading on Monday . The company traded as low as $1.8650 and last traded at $1.88. Approximately 34,340 shares changed hands during trading, a decline of 53% from the average daily volume of 73,239 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BRLT. Wall Street Zen lowered shares of Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Brilliant Earth Group in a research note on Wednesday, November 5th. Zacks Research raised shares of Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, B. Riley assumed coverage on shares of Brilliant Earth Group in a research note on Tuesday, October 7th. They issued a “buy” rating and a $3.00 price target for the company. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Brilliant Earth Group has an average rating of “Hold” and an average price target of $2.20.

Brilliant Earth Group Stock Performance

The company has a market capitalization of $176.56 million, a PE ratio of -59.00 and a beta of 1.41. The stock’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.99.

Brilliant Earth Group (NASDAQ:BRLT) last posted its earnings results on Wednesday, June 12th. The company reported $0.03 EPS for the quarter. The firm had revenue of $97.70 million for the quarter. Brilliant Earth Group had a negative return on equity of 1.23% and a net margin of 0.44%. On average, analysts expect that Brilliant Earth Group, Inc. will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Brilliant Earth Group

Several institutional investors have recently added to or reduced their stakes in the business. Klingman & Associates LLC lifted its position in shares of Brilliant Earth Group by 61.5% during the 2nd quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock worth $204,000 after buying an additional 56,451 shares during the last quarter. Susquehanna International Group LLP boosted its position in shares of Brilliant Earth Group by 257.0% in the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock valued at $109,000 after purchasing an additional 37,774 shares during the period. Two Sigma Investments LP acquired a new position in Brilliant Earth Group during the third quarter worth approximately $308,000. Capital World Investors boosted its holdings in shares of 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 acquiring an additional 122,460 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Brilliant Earth Group by 13.2% in the third quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after acquiring an additional 70,833 shares during the period. Hedge funds and other institutional investors 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.