Brilliant Earth Group (NASDAQ:BRLT) Trading 4.2% Higher - Here's Why

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) shot up 4.2% during mid-day trading on Monday . The stock traded as high as $1.50 and last traded at $1.48. 18,008 shares traded hands during trading, a decline of 72% from the average session volume of 65,214 shares. The stock had previously closed at $1.42.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group downgraded Brilliant Earth Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $4.00 to $1.60 in a research report on Tuesday, February 4th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $2.00 price objective on shares of Brilliant Earth Group in a research note on Thursday, March 13th.

Brilliant Earth Group Trading Up 4.2 %

The firm has a fifty day moving average of $1.48 and a 200-day moving average of $1.72. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.27 and a current ratio of 2.80. The stock has a market capitalization of $147.10 million, a price-to-earnings ratio of 49.35 and a beta of 1.44.

Insider Activity at Brilliant Earth Group

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 20,792 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.50, for a total value of $31,188.00. Following the transaction, the insider now owns 371,329 shares in the company, valued at $556,993.50. The trade was a 5.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 84.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRLT. U.S. Capital Wealth Advisors LLC purchased a new stake in Brilliant Earth Group during the 4th quarter worth approximately $128,000. Klingman & Associates LLC bought a new stake in shares of Brilliant Earth Group in the fourth quarter worth $193,000. Impact Investors Inc bought a new position in Brilliant Earth Group during the 4th quarter valued at $103,000. Boston Partners acquired a new position in Brilliant Earth Group during the 4th quarter worth $324,000. Finally, Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 6.1% in the 4th quarter. Renaissance Technologies LLC now owns 129,400 shares of the company's stock worth $272,000 after purchasing an additional 7,400 shares during the last quarter. 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.

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