Brilliant Earth Group (NASDAQ:BRLT – Get Rating) had its target price reduced by Credit Suisse Group from $13.00 to $10.00 in a report issued on Friday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.
A number of other equities analysts also recently commented on BRLT. Cowen reduced their price objective on shares of Brilliant Earth Group from $21.00 to $10.00 in a research note on Friday, May 13th. Raymond James initiated coverage on shares of Brilliant Earth Group in a report on Wednesday, June 29th. They issued an outperform rating and a $10.00 price target on the stock. Cowen cut their price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a report on Friday, May 13th. Piper Sandler lowered shares of Brilliant Earth Group from an overweight rating to a neutral rating in a report on Friday, July 22nd. Finally, KeyCorp lifted their price target on shares of Brilliant Earth Group from $8.00 to $10.00 and gave the stock an overweight rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $13.44.
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Brilliant Earth Group Stock Performance
Shares of NASDAQ:BRLT opened at $8.12 on Friday. The company has a market capitalization of $773.12 million and a price-to-earnings ratio of 50.75. Brilliant Earth Group has a 52 week low of $3.60 and a 52 week high of $20.39. The company has a quick ratio of 1.65, a current ratio of 1.92 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $5.44 and a 200 day moving average of $7.48.
Brilliant Earth Group (NASDAQ:BRLT – Get Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. Brilliant Earth Group had a net
margin of 2.87% and a return on equity of 29.26%. On average, sell-side analysts predict that Brilliant Earth Group will post 0.17 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Ian Bickley acquired 20,000 shares of the company's stock in a transaction dated Friday, May 27th. The shares were purchased at an average cost of $4.53 per share, with a total value of $90,600.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company's stock, valued at $226,500. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Institutional Investors Weigh In On Brilliant Earth Group
Several hedge funds have recently added to or reduced their stakes in BRLT. Acadian Asset Management LLC purchased a new stake in Brilliant Earth Group in the first quarter valued at $38,000. Westside Investment Management Inc. purchased a new stake in Brilliant Earth Group in the fourth quarter valued at $53,000. Occudo Quantitative Strategies LP purchased a new stake in Brilliant Earth Group in the second quarter valued at $58,000. Bank of America Corp DE boosted its holdings in Brilliant Earth Group by 4,234.1% in the first 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 last quarter. Finally, Avestar Capital LLC purchased a new stake in Brilliant Earth Group in the second quarter valued at $152,000. 8.90% of the stock is owned by hedge funds and other 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.
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