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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 117,800 shares, a decrease of 8.0% from the November 15th total of 128,000 shares. Based on an average daily trading volume, of 84,000 shares, the short-interest ratio is currently 1.4 days. Approximately 1.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRLT. Privium Fund Management UK Ltd bought a new stake in shares of Brilliant Earth Group in the 2nd quarter valued at approximately $28,000. Renaissance Technologies LLC raised its holdings in Brilliant Earth Group by 9.2% during the 2nd 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. Finally, Orion Capital Management LLC lifted its position in Brilliant Earth Group by 166.0% in the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after buying an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a research note on Friday, November 1st.

Brilliant Earth Group Stock Performance

Brilliant Earth Group stock opened at $2.00 on Wednesday. The company’s 50-day moving average price is $1.79 and its 200-day moving average price is $2.05. The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49. The company has a market cap of $197.10 million, a PE ratio of 66.67 and a beta of 1.68. Brilliant Earth Group has a twelve month low of $1.52 and a twelve month high of $3.81.

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.