Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Significant Drop in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT - Get Free Report) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 63,200 shares, a decline of 13.8% from the January 31st total of 73,300 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 89,000 shares, the short-interest ratio is presently 0.7 days.

Brilliant Earth Group Trading Down 1.4 %

BRLT traded down $0.02 during trading on Friday, reaching $1.36. 29,813 shares of the company's stock were exchanged, compared to its average volume of 64,286. The firm has a fifty day moving average price of $1.73 and a two-hundred day moving average price of $1.83. 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 one year low of $1.25 and a one year high of $3.21. The stock has a market capitalization of $134.03 million, a PE ratio of 45.35 and a beta of 1.62.

Wall Street Analyst Weigh In

BRLT has been the subject of a number of research analyst reports. Jefferies Financial Group cut shares of Brilliant Earth Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $4.00 to $1.60 in a research report on Tuesday, February 4th. Telsey Advisory Group reissued a "market perform" rating and set a $2.00 target price on shares of Brilliant Earth Group in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Brilliant Earth Group currently has an average rating of "Hold" and an average target price of $2.40.

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Insider Buying and Selling at Brilliant Earth Group

In other news, insider Sharon Dziesietnik sold 20,792 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 371,329 shares in the company, valued at approximately $556,993.50. The trade was a 5.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 84.70% of the company's stock.

Institutional Investors Weigh In On Brilliant Earth Group

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC bought a new stake in shares of Brilliant Earth Group in the 4th quarter valued at $65,000. Jane Street Group LLC bought a new stake in shares of Brilliant Earth Group in the 4th quarter valued at $25,000. Northern Trust Corp boosted its stake in shares of Brilliant Earth Group by 64.0% in the 4th quarter. Northern Trust Corp now owns 73,024 shares of the company's stock valued at $153,000 after purchasing an additional 28,505 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Brilliant Earth Group in the 4th quarter valued at $38,000. Finally, Mariner LLC bought a new stake in shares of Brilliant Earth Group in the 4th quarter valued at $105,000. 70.41% of the stock is owned by institutional investors.

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.