Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Significant Drop in Short Interest

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

Analysts Set New Price Targets

A number of research firms have recently commented on BRLT. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price target on shares of Brilliant Earth Group in a report on Friday, November 1st. William Blair cut Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors and hedge funds have recently bought and sold shares of BRLT. Privium Fund Management UK Ltd acquired a new position in Brilliant Earth Group in the 2nd quarter worth about $28,000. Virtu Financial LLC acquired a new position in Brilliant Earth Group in the 1st quarter worth about $56,000. Finally, Renaissance Technologies LLC increased its holdings in Brilliant Earth Group by 9.2% in the 2nd 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. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Price Performance

Shares of Brilliant Earth Group stock traded down $0.03 during trading on Friday, reaching $1.71. 54,655 shares of the company’s stock were exchanged, compared to its average volume of 51,614. Brilliant Earth Group has a 1-year low of $1.52 and a 1-year high of $3.81. The firm’s 50-day moving average price is $1.86 and its 200 day moving average price is $2.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.33 and a current ratio of 2.80. The company has a market cap of $168.12 million, a P/E ratio of 57.00 and a beta of 1.59.

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.