Brilliant Earth Group, Inc. (NASDAQ:BRLT – Get Rating) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 348,000 shares, a drop of 14.0% from the August 15th total of 404,800 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 161,300 shares, the short-interest ratio is presently 2.2 days.
Institutional Trading of Brilliant Earth Group
Several institutional investors and hedge funds have recently bought and sold shares of the company. GAM Holding AG raised its stake in Brilliant Earth Group by 89.6% during the first quarter. GAM Holding AG now owns 1,488,460 shares of the company's stock valued at $15,316,000 after buying an additional 703,460 shares in the last quarter. Stormborn Capital Management LLC raised its stake in Brilliant Earth Group by 210.7% during the first quarter. Stormborn Capital Management LLC now owns 656,200 shares of the company's stock valued at $6,752,000 after buying an additional 445,000 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Brilliant Earth Group during the fourth quarter valued at approximately $6,536,000. Barclays PLC bought a new position in shares of Brilliant Earth Group during the fourth quarter valued at approximately $5,996,000. Finally, Bank of Montreal Can bought a new position in shares of Brilliant Earth Group during the first quarter valued at approximately $1,230,000. Institutional investors and hedge funds own 6.26% of the company's stock.
Get Brilliant Earth Group alerts:Analyst Ratings Changes
BRLT has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on Brilliant Earth Group from $8.00 to $11.00 in a research report on Friday. Credit Suisse Group lowered their price objective on Brilliant Earth Group from $13.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, August 12th. Raymond James initiated coverage on Brilliant Earth Group in a research report on Wednesday, June 29th. They issued an "outperform" rating and a $10.00 price objective for the company. Piper Sandler downgraded Brilliant Earth Group from an "overweight" rating to a "neutral" rating in a research report on Friday, July 22nd. Finally, KeyCorp lifted their price objective on Brilliant Earth Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, August 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.56.
Brilliant Earth Group Stock Up 0.4 %
Shares of BRLT traded up $0.03 during midday trading on Friday, reaching $6.86. 73,808 shares of the company were exchanged, compared to its average volume of 79,657. The company has a current ratio of 2.69, a quick ratio of 2.21 and a debt-to-equity ratio of 0.76. Brilliant Earth Group has a 1-year low of $3.60 and a 1-year high of $20.39. The stock has a 50-day moving average price of $6.71 and a 200-day moving average price of $6.83. The company has a market cap of $654.17 million and a price-to-earnings ratio of 42.88.Brilliant Earth Group (NASDAQ:BRLT – Get Rating) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Brilliant Earth Group had a return on equity of 29.12% and a net margin of 2.87%. Research analysts expect that Brilliant Earth Group will post 0.17 earnings per share for the current year.
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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