Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Drops By 16.5%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant decline in short interest in April. As of April 15th, there was short interest totalling 50,500 shares, a decline of 16.5% from the March 31st total of 60,500 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 75,100 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price target on shares of Brilliant Earth Group in a research report on Tuesday, April 29th. Jefferies Financial Group cut shares of Brilliant Earth Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $4.00 to $1.60 in a research report on Tuesday, February 4th.

Brilliant Earth Group Price Performance

Shares of Brilliant Earth Group stock opened at $1.54 on Friday. The stock has a 50 day moving average price of $1.47 and a 200-day moving average price of $1.69. Brilliant Earth Group has a one year low of $1.25 and a one year high of $2.74. The stock has a market cap of $153.06 million, a price-to-earnings ratio of 51.35 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.27 and a current ratio of 2.80.

Insider Buying and Selling

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 20,792 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.50, for a total transaction of $31,188.00. Following the completion of the transaction, the insider now owns 371,329 shares in the company, valued at $556,993.50. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 84.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of Brilliant Earth Group by 6.1% in the 4th quarter. Renaissance Technologies LLC now owns 129,400 shares of the company’s stock worth $272,000 after acquiring an additional 7,400 shares during the last quarter. Jane Street Group LLC bought a new stake in Brilliant Earth Group in the fourth quarter worth about $25,000. XTX Topco Ltd purchased a new position in shares of Brilliant Earth Group during the fourth quarter valued at approximately $38,000. Northern Trust Corp grew its stake in shares of Brilliant Earth Group by 64.0% during the fourth quarter. Northern Trust Corp now owns 73,024 shares of the company’s stock valued at $153,000 after buying an additional 28,505 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Brilliant Earth Group in the fourth quarter worth approximately $65,000. Institutional investors own 70.41% of the company’s stock.

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.