Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Rises By 19.6%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 144,209 shares, an increase of 19.6% from the January 15th total of 120,554 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 63,561 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 63,561 shares, the short-interest ratio is currently 2.3 days. Approximately 0.9% of the company’s stock are sold short.

Brilliant Earth Group Stock Down 1.3%

Shares of NASDAQ:BRLT opened at $1.49 on Tuesday. The stock has a market capitalization of $148.63 million, a PE ratio of -49.67 and a beta of 1.41. The firm’s 50 day moving average price is $1.69 and its 200-day moving average price is $2.06. Brilliant Earth Group has a twelve month low of $1.25 and a twelve month high of $3.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRLT. Virtu Financial LLC bought a new stake in shares of Brilliant Earth Group during the 3rd quarter valued at $32,000. Algert Global LLC purchased a new position in Brilliant Earth Group during the third quarter valued at $40,000. Squarepoint Ops LLC purchased a new position in Brilliant Earth Group during the third quarter valued at $81,000. Millennium Management LLC bought a new stake in Brilliant Earth Group during the third quarter valued at about $84,000. Finally, Kapitalo Investimentos Ltda increased its position in Brilliant Earth Group by 234.0% in the third quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock worth $94,000 after buying an additional 31,851 shares in the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BRLT. Wall Street Zen lowered shares of Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price target on shares of Brilliant Earth Group in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Brilliant Earth Group has a consensus rating of “Hold” and a consensus target price of $2.50.

About Brilliant Earth Group

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.