Telsey Advisory Group Reiterates Market Perform Rating for Brilliant Earth Group (NASDAQ:BRLT)

Brilliant Earth Group (NASDAQ:BRLT)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a report issued on Monday,Benzinga reports. They presently have a $2.00 price target on the stock. Telsey Advisory Group’s target price indicates a potential upside of 31.58% from the stock’s current price.

Other research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. Zacks Research raised shares of Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Wall Street Zen lowered shares of Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.50.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $1.52 on Monday. The stock’s 50-day simple moving average is $1.62 and its 200 day simple moving average is $2.04. The company has a market cap of $151.62 million, a P/E ratio of -50.67 and a beta of 1.40. Brilliant Earth Group has a 52-week low of $1.26 and a 52-week high of $3.10.

Insiders Place Their Bets

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 19,687 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $1.37, for a total transaction of $26,971.19. Following the completion of the sale, the insider owned 446,736 shares of the company’s stock, valued at $612,028.32. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 83.90% of the company’s stock.

Hedge Funds Weigh In On Brilliant Earth Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its holdings in shares of Brilliant Earth Group by 58.0% during the 4th quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock worth $109,000 after buying an additional 22,793 shares during the period. Renaissance Technologies LLC lifted its position in Brilliant Earth Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $382,000 after acquiring an additional 22,000 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in shares of Brilliant Earth Group by 257.0% during the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after acquiring an additional 37,774 shares during the period. Two Sigma Investments LP bought a new stake in shares of Brilliant Earth Group during the third quarter worth approximately $308,000. Finally, Capital World Investors grew its position in shares of Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after purchasing an additional 122,460 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Brilliant Earth Group Company Profile

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.