Brilliant Earth Group (NASDAQ:BRLT) Trading 3.1% Higher – What’s Next?

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) were up 3.1% during mid-day trading on Friday . The stock traded as high as $2.04 and last traded at $1.99. Approximately 36,741 shares were traded during trading, a decline of 33% from the average daily volume of 54,578 shares. The stock had previously closed at $1.93.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $3.00 target price on shares of Brilliant Earth Group in a research report on Friday, November 1st.

Brilliant Earth Group Stock Up 3.1 %

The business’s fifty day moving average price is $1.78 and its 200 day moving average price is $2.06. The firm has a market capitalization of $196.11 million, a price-to-earnings ratio of 66.36 and a beta of 1.68. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49.

Institutional Investors Weigh In On Brilliant Earth Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRLT. Privium Fund Management UK Ltd acquired a new position in Brilliant Earth Group in the 2nd quarter valued at about $28,000. Renaissance Technologies LLC grew its stake in shares of Brilliant Earth Group by 9.2% in 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 last quarter. Finally, Orion Capital Management LLC increased its holdings in shares of 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 purchasing an additional 8,300 shares during the period. 70.41% of the stock is owned by hedge funds and other 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.