Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Declines By 13.8%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 63,200 shares, a drop of 13.8% from the January 31st total of 73,300 shares. Based on an average daily volume of 89,000 shares, the short-interest ratio is presently 0.7 days. Currently, 0.5% of the shares of the company are short sold.

Brilliant Earth Group Price Performance

BRLT traded down $0.00 on Thursday, hitting $1.34. 12,022 shares of the stock were exchanged, compared to its average volume of 63,984. The business has a 50-day moving average of $1.74 and a two-hundred day moving average of $1.84. The firm has a market capitalization of $131.67 million, a price-to-earnings ratio of 44.55 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27. Brilliant Earth Group has a 12 month low of $1.25 and a 12 month high of $3.21.

Insider Transactions at Brilliant Earth Group

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 20,792 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.50, for a total transaction of $31,188.00. Following the transaction, the insider now owns 371,329 shares in the company, valued at $556,993.50. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 84.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRLT. Millennium Management LLC acquired a new stake in shares of Brilliant Earth Group in the 4th quarter valued at $65,000. Jane Street Group LLC bought a new stake in shares of Brilliant Earth Group during the 4th quarter worth $25,000. Northern Trust Corp boosted its stake in Brilliant Earth Group by 64.0% in the fourth quarter. Northern Trust Corp now owns 73,024 shares of the company’s stock valued at $153,000 after buying an additional 28,505 shares in the last quarter. XTX Topco Ltd bought a new position in Brilliant Earth Group in the fourth quarter valued at about $38,000. Finally, Mariner LLC acquired a new position in Brilliant Earth Group during the fourth quarter worth about $105,000. 70.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BRLT. Jefferies Financial Group lowered shares of Brilliant Earth Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $4.00 to $1.60 in a research report on Tuesday, February 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Brilliant Earth Group in a report on Thursday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.40.

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.