Jefferies Financial Group Downgrades Brilliant Earth Group (NASDAQ:BRLT) to Hold

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) was downgraded by investment analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a report issued on Tuesday, Marketbeat reports. They currently have a $1.60 target price on the stock, down from their previous target price of $4.00. Jefferies Financial Group's price objective indicates a potential upside of 1.27% from the stock's current price.

Separately, Telsey Advisory Group cut shares of Brilliant Earth Group from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $3.00 to $2.00 in a research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $2.40.

Brilliant Earth Group Price Performance

Shares of NASDAQ:BRLT traded down $0.12 during midday trading on Tuesday, hitting $1.58. 108,867 shares of the stock were exchanged, compared to its average volume of 84,528. Brilliant Earth Group has a twelve month low of $1.52 and a twelve month high of $3.34. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $1.94 and a 200-day moving average price of $1.95. The stock has a market cap of $155.71 million, a P/E ratio of 52.68 and a beta of 1.58.

Institutional Trading of Brilliant Earth Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of Brilliant Earth Group by 9.2% during the 2nd 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 last quarter. Orion Capital Management LLC boosted its position in Brilliant Earth Group by 166.0% during the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company's stock worth $28,000 after acquiring an additional 8,300 shares during the last quarter. Impact Investors Inc acquired a new stake in Brilliant Earth Group during the fourth quarter worth approximately $103,000. Klingman & Associates LLC purchased a new stake in Brilliant Earth Group in the 4th quarter worth approximately $193,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in Brilliant Earth Group in the 4th quarter valued at $128,000. Hedge funds and other institutional investors own 70.41% of the company's stock.

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.