Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Increase in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 105,600 shares, an increase of 6.0% from the July 31st total of 99,600 shares. Based on an average daily trading volume, of 39,300 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.9% of the shares of the company are short sold.

Brilliant Earth Group Price Performance

BRLT stock traded down $0.06 during midday trading on Tuesday, hitting $1.86. 52,432 shares of the stock were exchanged, compared to its average volume of 43,540. The stock’s 50-day moving average price is $2.23 and its 200-day moving average price is $2.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.33 and a current ratio of 2.88. The stock has a market cap of $182.02 million, a price-to-earnings ratio of 32.00 and a beta of 1.56. Brilliant Earth Group has a fifty-two week low of $1.86 and a fifty-two week high of $3.81.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a return on equity of 6.48% and a net margin of 0.57%. The business had revenue of $105.43 million during the quarter, compared to analysts’ expectations of $106.52 million. Research analysts predict that Brilliant Earth Group will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

BRLT has been the subject of a number of recent analyst reports. William Blair lowered shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a research note on Thursday, August 29th.

Insiders Place Their Bets

In related news, Director Jennifer Noel Harris sold 15,176 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $2.19, for a total value of $33,235.44. Following the completion of the sale, the director now owns 42,844 shares in the company, valued at $93,828.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 84.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Brilliant Earth Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Avestar Capital LLC boosted its stake in shares of Brilliant Earth Group by 25.0% in the fourth quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Brilliant Earth Group in the 1st quarter worth about $56,000. Privium Fund Management UK Ltd acquired a new stake in shares of Brilliant Earth Group in the 2nd quarter valued at about $28,000. Finally, Renaissance Technologies LLC lifted its position in shares of Brilliant Earth Group by 9.2% during the second 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. 70.41% of the stock is owned by institutional investors and hedge funds.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.