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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 123,200 shares, a decrease of 16.7% from the October 15th total of 147,900 shares. Based on an average daily trading volume, of 71,300 shares, the short-interest ratio is presently 1.7 days. Currently, 1.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BRLT shares. William Blair lowered shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a research note on Friday, November 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Privium Fund Management UK Ltd purchased a new position in Brilliant Earth Group during the 2nd quarter worth approximately $28,000. Virtu Financial LLC acquired a new position in shares of Brilliant Earth Group in the first quarter worth about $56,000. Finally, Renaissance Technologies LLC boosted its position 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 purchasing an additional 10,000 shares in the last quarter. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Brilliant Earth Group Stock Down 1.7 %

Shares of BRLT stock traded down $0.03 during mid-day trading on Friday, hitting $1.71. 54,655 shares of the stock traded hands, compared to its average volume of 110,176. The stock’s fifty day moving average is $1.86 and its two-hundred day moving average is $2.14. The stock has a market cap of $168.52 million, a P/E ratio of 57.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.33. Brilliant Earth Group has a 52-week low of $1.52 and a 52-week high of $3.81.

Brilliant Earth Group Company Profile

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.