Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Average Rating of “Reduce” from Analysts

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

Separately, Weiss Ratings cut Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th.

Brilliant Earth Group Price Performance

NASDAQ BRLT opened at $1.16 on Friday. Brilliant Earth Group has a fifty-two week low of $1.00 and a fifty-two week high of $3.10. The stock’s 50-day moving average is $1.21 and its two-hundred day moving average is $1.40. The firm has a market cap of $117.29 million, a P/E ratio of -3.74 and a beta of 1.37.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $99.50 million during the quarter, compared to the consensus estimate of $98.16 million. Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%. On average, equities analysts expect that Brilliant Earth Group will post -0.04 EPS for the current year.

Institutional Trading of Brilliant Earth Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in shares of Brilliant Earth Group by 58.0% during the fourth quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock valued at $109,000 after acquiring an additional 22,793 shares during the period. Algert Global LLC bought a new position in Brilliant Earth Group during the 3rd quarter valued at about $40,000. Millennium Management LLC acquired a new position in Brilliant Earth Group in the third quarter valued at about $84,000. Susquehanna International Group LLP boosted its position in Brilliant Earth Group by 257.0% in the third quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock valued at $109,000 after buying an additional 37,774 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake 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 buying an additional 22,000 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.