Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Declines By 70.3%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 44,701 shares, a drop of 70.3% from the July 15th total of 150,305 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 45,457 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Gavin Turner sold 50,000 shares of Brilliant Earth Group stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $1.29, for a total value of $64,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 88,356 shares of company stock valued at $104,807. Company insiders own 83.20% of the company’s stock.

Institutional Investors Weigh In On Brilliant Earth Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Brilliant Earth Group during the third quarter worth $32,000. Algert Global LLC purchased a new position in shares of Brilliant Earth Group during the 3rd quarter worth $40,000. Squarepoint Ops LLC acquired a new position in shares of Brilliant Earth Group during the 3rd quarter valued at about $81,000. Millennium Management LLC purchased a new stake in shares of Brilliant Earth Group in the third quarter valued at about $84,000. Finally, Susquehanna International Group LLP increased its position in Brilliant Earth Group by 257.0% during the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after purchasing an additional 37,774 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Stock Performance

Shares of NASDAQ:BRLT traded down $0.03 during midday trading on Friday, hitting $1.33. The company’s stock had a trading volume of 90,537 shares, compared to its average volume of 146,018. The business’s 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.30. The company has a market cap of $135.42 million, a P/E ratio of -4.59 and a beta of 1.38. Brilliant Earth Group has a 12-month low of $1.00 and a 12-month high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. Brilliant Earth Group had a negative net margin of 0.66% and a negative return on equity of 15.48%. The company had revenue of $115.11 million during the quarter, compared to analysts’ expectations of $111.39 million. On average, sell-side analysts predict that Brilliant Earth Group will post -0.03 earnings per share for the current fiscal year.

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.