Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Grows By 12.4%

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 147,900 shares, an increase of 12.4% from the September 30th total of 131,600 shares. Approximately 1.2% of the company's shares are short sold. Based on an average trading volume of 59,200 shares, the days-to-cover ratio is currently 2.5 days.

Brilliant Earth Group Trading Down 2.4 %

Shares of NASDAQ:BRLT traded down $0.04 during mid-day trading on Tuesday, reaching $1.63. The stock had a trading volume of 113,902 shares, compared to its average volume of 49,756. The firm has a 50 day simple moving average of $1.92 and a two-hundred day simple moving average of $2.22. Brilliant Earth Group has a twelve month low of $1.52 and a twelve month high of $3.81. The firm has a market cap of $159.51 million, a PE ratio of 27.17 and a beta of 1.54. The company has a current ratio of 2.88, a quick ratio of 2.33 and a debt-to-equity ratio of 0.52.

Brilliant Earth Group (NASDAQ:BRLT - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $105.43 million for the quarter, compared to analysts' expectations of $106.52 million. On average, research analysts predict that Brilliant Earth Group will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on BRLT shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $3.00 price target on shares of Brilliant Earth Group in a report on Thursday, August 29th. William Blair lowered shares of Brilliant Earth Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 9th.

Institutional Investors Weigh In On Brilliant Earth Group

Several large investors have recently modified their holdings of BRLT. Privium Fund Management UK Ltd acquired a new position in shares of Brilliant Earth Group in the 2nd quarter valued at approximately $28,000. Virtu Financial LLC bought a new position in Brilliant Earth Group in the first quarter valued at approximately $56,000. Finally, Renaissance Technologies LLC boosted its holdings 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 valued at $262,000 after buying an additional 10,000 shares during the period. 70.41% of the stock is currently owned by institutional investors.

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.