Brilliant Earth Group (NASDAQ:BRLT) Rating Lowered to “Hold” at Jefferies Financial Group

Brilliant Earth Group (NASDAQ:BRLT) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Tuesday,Finviz reports. They presently have a $1.60 price target on the stock, down from their prior price target of $4.00. Jefferies Financial Group’s target price suggests a potential downside of 8.05% from the company’s previous close.

Separately, Telsey Advisory Group lowered Brilliant Earth Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $3.00 to $2.00 in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.40.

Brilliant Earth Group Trading Down 3.3 %

Shares of BRLT stock opened at $1.74 on Tuesday. The company has a market capitalization of $171.48 million, a PE ratio of 58.02 and a beta of 1.58. 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 business’s fifty day moving average is $1.95 and its 200 day moving average is $1.96. Brilliant Earth Group has a 52-week low of $1.52 and a 52-week high of $3.34.

Hedge Funds Weigh In On Brilliant Earth Group

A number of large investors have recently added to or reduced their stakes in BRLT. Orion Capital Management LLC lifted its holdings 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 valued at $28,000 after acquiring an additional 8,300 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Brilliant Earth Group in the fourth quarter worth about $128,000. Klingman & Associates LLC purchased a new stake in Brilliant Earth Group in the 4th quarter valued at $193,000. Finally, Renaissance Technologies LLC increased its stake in 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 acquiring an additional 10,000 shares during the last quarter. 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.