Analysts Set Brilliant Earth Group, Inc. (NASDAQ:BRLT) Target Price at $1.74

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has been given a consensus recommendation of “Reduce” by the eight ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1.7375.

A number of equities research analysts have commented on the stock. Morgan Stanley downgraded shares of Brilliant Earth Group to a “sector weight” rating in a research report on Friday, March 6th. TD Cowen cut their target price on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research report on Friday, March 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Brilliant Earth Group in a research report on Friday, March 6th. B. Riley Financial reaffirmed a “neutral” rating and issued a $1.50 target price (down from $3.00) on shares of Brilliant Earth Group in a research report on Friday, March 6th. Finally, Weiss Ratings raised shares of Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday.

Brilliant Earth Group Stock Performance

BRLT stock opened at $1.15 on Wednesday. The firm has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.50. Brilliant Earth Group has a 52-week low of $1.11 and a 52-week high of $3.10. The firm has a market capitalization of $116.28 million, a price-to-earnings ratio of -3.71 and a beta of 1.36.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Brilliant Earth Group had a negative net margin of 0.71% and a negative return on equity of 18.23%. The firm had revenue of $99.50 million during the quarter, compared to analyst estimates of $98.16 million. As a group, sell-side analysts forecast that Brilliant Earth Group will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Capital World Investors raised its position in shares of Brilliant Earth Group by 13.2% during the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after buying an additional 122,460 shares in the last quarter. Vanguard Group Inc. grew its holdings in Brilliant Earth Group by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after purchasing an additional 70,833 shares during the last quarter. Potomac Capital Management Inc. bought a new position in Brilliant Earth Group during the 4th quarter valued at about $422,000. Renaissance Technologies LLC grew its holdings in Brilliant Earth Group by 11.2% during the 4th quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock valued at $382,000 after purchasing an additional 22,000 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in Brilliant Earth Group during the 3rd quarter valued at about $308,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

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.