Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Decreases By 16.7%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 123,200 shares, a drop of 16.7% from the October 15th total of 147,900 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 71,300 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a report on Friday, November 1st. William Blair downgraded shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Institutional Trading of Brilliant Earth Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 9.2% in 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 during the period. Privium Fund Management UK Ltd bought a new position in shares of Brilliant Earth Group in the second quarter worth about $28,000. Finally, Virtu Financial LLC bought a new stake in shares of Brilliant Earth Group during the first quarter worth $56,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Stock Performance

Shares of BRLT stock traded down $0.03 during midday trading on Friday, hitting $1.71. 54,466 shares of the company were exchanged, compared to its average volume of 51,614. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.33 and a current ratio of 2.80. The firm’s 50 day moving average price is $1.86 and its two-hundred day moving average price is $2.14. Brilliant Earth Group has a 52 week low of $1.52 and a 52 week high of $3.81. The firm has a market capitalization of $168.12 million, a P/E ratio of 57.00 and a beta of 1.59.

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.