Brokerages Set Brilliant Earth Group, Inc. (NASDAQ:BRLT) PT at $1.74

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has been given an average recommendation of “Reduce” by the eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $1.7375.

A number of research firms have issued reports on BRLT. Morgan Stanley downgraded shares of Brilliant Earth Group to a “sector weight” rating in a report on Friday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Brilliant Earth Group in a research report on Monday, March 2nd. TD Cowen cut their price target on Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. Finally, B. Riley Financial restated a “neutral” rating and set a $1.50 price objective (down from $3.00) on shares of Brilliant Earth Group in a research note on Friday, March 6th.

Insider Activity at Brilliant Earth Group

In related 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 value of $26,971.19. Following the transaction, the insider owned 446,736 shares in the company, valued at approximately $612,028.32. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 83.90% of the company’s stock.

Institutional Investors Weigh In On Brilliant Earth Group

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC increased its holdings in Brilliant Earth Group by 58.0% in the 4th quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock valued at $109,000 after buying an additional 22,793 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Brilliant Earth Group by 11.2% during the 4th 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 period. Potomac Capital Management Inc. acquired a new stake in shares of Brilliant Earth Group during the 4th quarter worth approximately $422,000. Susquehanna International Group LLP boosted its position in shares of Brilliant Earth Group by 257.0% during the 3rd 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 in the last quarter. Finally, Millennium Management LLC bought a new position in Brilliant Earth Group in the third quarter valued at approximately $84,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Brilliant Earth Group Stock Performance

BRLT opened at $1.33 on Friday. Brilliant Earth Group has a fifty-two week low of $1.21 and a fifty-two week high of $3.10. The company has a market capitalization of $134.48 million, a P/E ratio of -5.54 and a beta of 1.40. The stock has a fifty day moving average of $1.45 and a 200-day moving average of $1.86.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Brilliant Earth Group had a negative net margin of 0.48% and a negative return on equity of 12.33%. The business had revenue of $124.41 million during the quarter, compared to analyst estimates of $125.33 million. On average, equities research analysts predict that Brilliant Earth Group will post -0.02 earnings per share for the current fiscal year.

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.