Brilliant Earth Group, Inc. (NASDAQ:BRLT) Shares Shorted: Short Interest Down 35.5% in September

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 103,860 shares, a drop of 35.5% from the August 31st total of 161,041 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 117,592 shares, the short-interest ratio is currently 0.9 days.

Brilliant Earth Group Price Performance

Shares of Brilliant Earth Group stock opened at $1.33 on Thursday. The firm has a market cap of $135.42 million, a PE ratio of -4.59 and a beta of 1.42. Brilliant Earth Group has a twelve month low of $1.00 and a twelve month high of $2.90. The business has a 50-day moving average price of $1.30 and a 200 day moving average price of $1.27.

Brilliant Earth Group (NASDAQ:BRLT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.03 EPS for the quarter. The company had revenue of $115.11 million for the quarter, compared to analyst estimates of $111.39 million. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%. On average, sell-side analysts expect that Brilliant Earth Group will post 0.02 EPS for the current year.

Insider Activity

In other news, Director Gavin Turner sold 50,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $1.29, for a total value of $64,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 83.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brilliant Earth Group

A hedge fund recently bought a new position in Brilliant Earth Group stock. Potomac Capital Management Inc. bought a new stake in Brilliant Earth Group, Inc. (NASDAQ:BRLT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 241,000 shares of the company’s stock, valued at approximately $422,000. Potomac Capital Management Inc. owned approximately 0.24% of Brilliant Earth Group at the end of the most recent reporting period. Institutional investors own 70.41% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Brilliant Earth Group currently has a consensus rating of “Reduce” and a consensus price target of $1.74.

About Brilliant Earth Group

Brilliant Earth Group, Inc is a digitally native, omnichannel jewelry company that designs and sells engagement rings, wedding bands, fine jewelry and other diamond and gemstone products. The company is known for offering diamonds and gemstones with an emphasis on sourcing transparency, including lab-grown diamonds and recycled precious metals.

Brilliant Earth sells its products through its e-commerce platform and a network of showrooms in the United States. Its services include virtual and in-person consultations, appointment-based shopping, custom jewelry design and tools that allow customers to select and personalize diamonds, gemstones and settings.

The company was founded in 2005 by Beth Gerstein and Eric Grossberg.