Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Decline in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 117,800 shares, a decrease of 8.0% from the November 15th total of 128,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 84,000 shares, the short-interest ratio is currently 1.4 days.

Institutional Trading of Brilliant Earth Group

Several institutional investors and hedge funds have recently modified their holdings of BRLT. Privium Fund Management UK Ltd purchased a new stake in Brilliant Earth Group in the 2nd quarter worth $28,000. Orion Capital Management LLC boosted its stake in shares of Brilliant Earth Group by 166.0% in the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after acquiring an additional 8,300 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Brilliant Earth Group by 9.2% during the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after purchasing an additional 10,000 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 target price on shares of Brilliant Earth Group in a research report on Friday, November 1st.

Brilliant Earth Group Price Performance

Shares of NASDAQ:BRLT opened at $2.00 on Wednesday. The company has a market capitalization of $197.10 million, a P/E ratio of 66.67 and a beta of 1.68. Brilliant Earth Group has a 1-year low of $1.52 and a 1-year high of $3.81. The firm’s 50 day simple moving average is $1.79 and its two-hundred day simple moving average is $2.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27.

About Brilliant Earth Group

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.