Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Increases By 18.6%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 132,500 shares, an increase of 18.6% from the August 31st total of 111,700 shares. Based on an average trading volume of 39,600 shares, the short-interest ratio is presently 3.3 days. Currently, 1.1% of the shares of the company are sold short.

Brilliant Earth Group Price Performance

BRLT stock traded up $0.11 during midday trading on Monday, hitting $2.14. 31,407 shares of the stock were exchanged, compared to its average volume of 44,463. The stock’s 50-day moving average price is $2.14 and its 200-day moving average price is $2.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.33 and a current ratio of 2.88. The stock has a market cap of $209.42 million, a price-to-earnings ratio of 35.67 and a beta of 1.53. Brilliant Earth Group has a fifty-two week low of $1.66 and a fifty-two week high of $3.81.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $105.43 million during the quarter, compared to the consensus estimate of $106.52 million. Brilliant Earth Group had a return on equity of 6.48% and a net margin of 0.57%. Research analysts predict that Brilliant Earth Group will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Avestar Capital LLC raised its stake in Brilliant Earth Group by 25.0% in the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake 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 valued at $262,000 after buying an additional 10,000 shares during the period. Privium Fund Management UK Ltd acquired a new stake in Brilliant Earth Group during the second quarter worth approximately $28,000. Finally, Virtu Financial LLC purchased a new stake in Brilliant Earth Group in the 1st quarter worth approximately $56,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. William Blair downgraded Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 target price on shares of Brilliant Earth Group in a report on Thursday, August 29th.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells 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. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.