Brilliant Earth Group (NASDAQ:BRLT) Rating Lowered to "Market Perform" at Telsey Advisory Group

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) was downgraded by research analysts at Telsey Advisory Group from an "outperform" rating to a "market perform" rating in a note issued to investors on Thursday, Marketbeat reports. They presently have a $2.00 target price on the stock, down from their previous target price of $3.00. Telsey Advisory Group's target price would suggest a potential upside of 1.52% from the stock's previous close.

Brilliant Earth Group Trading Up 1.0 %

Shares of BRLT traded up $0.02 during mid-day trading on Thursday, reaching $1.97. The company's stock had a trading volume of 37,042 shares, compared to its average volume of 54,726. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49. Brilliant Earth Group has a 52 week low of $1.52 and a 52 week high of $3.81. The company's fifty day moving average price is $1.79 and its two-hundred day moving average price is $2.04. The stock has a market cap of $194.15 million, a PE ratio of 65.69 and a beta of 1.68.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Privium Fund Management UK Ltd bought a new position in Brilliant Earth Group during the 2nd quarter worth approximately $28,000. Renaissance Technologies LLC lifted its position in Brilliant Earth Group by 9.2% in the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company's stock valued at $262,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Orion Capital Management LLC boosted its stake in shares of Brilliant Earth Group by 166.0% during the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company's stock valued at $28,000 after purchasing an additional 8,300 shares during the period. Hedge funds and other institutional investors 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.