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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 147,900 shares, an increase of 12.4% from the September 30th total of 131,600 shares. Based on an average daily trading volume, of 59,200 shares, the short-interest ratio is currently 2.5 days. Approximately 1.2% of the company’s shares are sold short.

Brilliant Earth Group Stock Performance

Shares of NASDAQ BRLT traded down $0.08 during trading on Thursday, reaching $1.55. 45,690 shares of the company traded hands, compared to its average volume of 50,327. The firm has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $2.22. Brilliant Earth Group has a 52-week low of $1.52 and a 52-week high of $3.81. The stock has a market capitalization of $152.39 million, a PE ratio of 26.50 and a beta of 1.54. The company has a quick ratio of 2.33, a current ratio of 2.88 and a debt-to-equity ratio of 0.52.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $105.43 million for the quarter, compared to analysts’ expectations of $106.52 million. Brilliant Earth Group had a net margin of 0.57% and a return on equity of 6.48%. Equities research analysts anticipate that Brilliant Earth Group will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of Brilliant Earth Group in a research note on Thursday, August 29th. William Blair lowered shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of 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 purchasing an additional 10,000 shares during the period. Privium Fund Management UK Ltd bought a new stake in Brilliant Earth Group during the second quarter valued at approximately $28,000. Finally, Virtu Financial LLC purchased a new stake in Brilliant Earth Group during the first quarter valued at approximately $56,000. Institutional investors own 70.41% of the company’s stock.

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.