Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Consensus Recommendation of “Reduce” from Analysts

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has received an average recommendation of “Reduce” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $1.7375.

A number of research firms have recently commented on BRLT. Morgan Stanley cut shares of Brilliant Earth Group to a “sector weight” rating in a research note on Friday, March 6th. KeyCorp reissued a “sector weight” rating on shares of Brilliant Earth Group in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. B. Riley Financial restated a “neutral” rating and set a $1.50 price target (down from $3.00) on shares of Brilliant Earth Group in a research report on Friday, March 6th. Finally, Jefferies Financial Group restated a “hold” rating and set a $1.85 price target on shares of Brilliant Earth Group in a research report on Thursday, March 5th.

Brilliant Earth Group Stock Performance

BRLT opened at $1.37 on Tuesday. Brilliant Earth Group has a fifty-two week low of $1.21 and a fifty-two week high of $3.10. The company has a fifty day moving average of $1.38 and a two-hundred day moving average of $1.77. The stock has a market capitalization of $138.52 million, a price-to-earnings ratio of -5.71 and a beta of 1.43.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Thursday, March 5th. The company reported ($0.06) 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%. On average, equities research analysts forecast that Brilliant Earth Group will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Sharon Dziesietnik sold 19,687 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total transaction of $26,971.19. Following the transaction, the insider directly owned 446,736 shares in the company, valued at approximately $612,028.32. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 83.90% of the company’s stock.

Hedge Funds Weigh In On Brilliant Earth Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Brilliant Earth Group during the third quarter worth about $32,000. Algert Global LLC acquired a new position in Brilliant Earth Group in the 3rd quarter valued at about $40,000. Squarepoint Ops LLC acquired a new position in Brilliant Earth Group in the 3rd quarter valued at about $81,000. Millennium Management LLC acquired a new position in Brilliant Earth Group in the 3rd quarter valued at about $84,000. Finally, Kapitalo Investimentos Ltda boosted its holdings in Brilliant Earth Group by 234.0% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock valued at $94,000 after purchasing an additional 31,851 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.