Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Down 5.7% in March

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 158,500 shares, a decline of 5.7% from the March 15th total of 168,100 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 45,900 shares, the days-to-cover ratio is presently 3.5 days.

Brilliant Earth Group Price Performance

BRLT stock opened at $2.70 on Wednesday. The firm has a 50 day moving average of $2.91 and a 200-day moving average of $2.95. Brilliant Earth Group has a 12-month low of $2.04 and a 12-month high of $4.29. The company has a current ratio of 2.66, a quick ratio of 2.17 and a debt-to-equity ratio of 0.57. The company has a market cap of $264.22 million, a price-to-earnings ratio of 54.01 and a beta of 1.61.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a net margin of 0.51% and a return on equity of 7.19%. The company had revenue of $124.30 million during the quarter, compared to the consensus estimate of $125.10 million. As a group, equities analysts expect that Brilliant Earth Group will post 0.01 EPS for the current fiscal year.

Analyst Ratings Changes

BRLT has been the topic of a number of analyst reports. TD Cowen lowered their price objective on Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating on the stock in a report on Friday, March 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price target on shares of Brilliant Earth Group in a research report on Friday, March 15th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BRLT. JPMorgan Chase & Co. acquired a new position in shares of Brilliant Earth Group during the 1st quarter worth approximately $173,000. Bank of Montreal Can acquired a new position in shares of Brilliant Earth Group during the 1st quarter worth approximately $1,230,000. Acadian Asset Management LLC acquired a new position in shares of Brilliant Earth Group during the 1st quarter worth approximately $38,000. BlackRock Inc. raised its position in shares of Brilliant Earth Group by 3.8% during the 1st quarter. BlackRock Inc. now owns 105,913 shares of the company’s stock worth $1,090,000 after purchasing an additional 3,883 shares during the last quarter. Finally, State Street Corp acquired a new position in shares of Brilliant Earth Group during the 1st quarter worth approximately $414,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

About Brilliant Earth Group

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.