Telsey Advisory Group Reiterates “Outperform” Rating for Brilliant Earth Group (NASDAQ:BRLT)

Brilliant Earth Group (NASDAQ:BRLT)‘s stock had its “outperform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research note issued on Friday, Benzinga reports. They presently have a $3.00 target price on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 77.51% from the company’s previous close.

Separately, William Blair lowered shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Brilliant Earth Group Trading Up 9.0 %

Shares of NASDAQ BRLT opened at $1.69 on Friday. Brilliant Earth Group has a 1-year low of $1.52 and a 1-year high of $3.81. The business has a fifty day moving average price of $1.89 and a 200 day moving average price of $2.20. The stock has a market capitalization of $166.16 million, a P/E ratio of 28.17 and a beta of 1.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.88 and a quick ratio of 2.33.

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

Hedge Funds Weigh In On Brilliant Earth Group

Several hedge funds have recently modified their holdings of BRLT. Privium Fund Management UK Ltd acquired a new stake in Brilliant Earth Group in the 2nd quarter worth approximately $28,000. Virtu Financial LLC purchased a new position in shares of Brilliant Earth Group in the first quarter worth $56,000. Finally, 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 worth $262,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.