Brilliant Earth Group (NASDAQ:BRLT) Rating Lowered to Hold at Jefferies Financial Group

Brilliant Earth Group (NASDAQ:BRLT) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Tuesday,Finviz reports. They presently have a $1.60 target price on the stock, down from their previous target price of $4.00. Jefferies Financial Group’s price objective would indicate a potential downside of 8.05% from the stock’s previous close.

Separately, Telsey Advisory Group downgraded shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $3.00 to $2.00 in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.40.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.74 on Tuesday. Brilliant Earth Group has a twelve month low of $1.52 and a twelve month high of $3.34. The company has a 50-day moving average of $1.95 and a 200-day moving average of $1.96. The firm has a market cap of $171.48 million, a price-to-earnings ratio of 58.02 and a beta of 1.58. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49.

Institutional Investors Weigh In On Brilliant Earth Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Capital Management LLC boosted its holdings in shares of Brilliant Earth Group by 166.0% during the 3rd quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after buying an additional 8,300 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in Brilliant Earth Group during the 4th quarter worth approximately $128,000. Klingman & Associates LLC acquired a new position in Brilliant Earth Group in the 4th quarter valued at $193,000. Finally, Renaissance Technologies LLC lifted its holdings 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 buying an additional 10,000 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

Brilliant Earth Group Company Profile

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.