Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Significant Drop in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 123,200 shares, a decrease of 16.7% from the October 15th total of 147,900 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 71,300 shares, the short-interest ratio is currently 1.7 days.

Brilliant Earth Group Stock Performance

Shares of BRLT traded down $0.03 on Friday, reaching $1.71. 54,655 shares of the company’s stock traded hands, compared to its average volume of 51,614. The company has a current ratio of 2.80, a quick ratio of 2.33 and a debt-to-equity ratio of 0.49. The stock has a market cap of $168.12 million, a PE ratio of 57.00 and a beta of 1.59. The stock’s 50 day simple moving average is $1.86 and its two-hundred day simple moving average is $2.14. Brilliant Earth Group has a 52-week low of $1.52 and a 52-week high of $3.81.

Institutional Trading of Brilliant Earth Group

A number of institutional investors and hedge funds have recently modified their holdings of BRLT. Privium Fund Management UK Ltd purchased a new stake in shares of Brilliant Earth Group during the second quarter valued at approximately $28,000. Virtu Financial LLC purchased a new stake in shares of Brilliant Earth Group during the first quarter valued at approximately $56,000. Finally, Renaissance Technologies LLC increased its position in shares of Brilliant Earth Group by 9.2% during the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after acquiring an additional 10,000 shares during the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRLT has been the subject of several analyst reports. William Blair downgraded Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a research note on Friday, November 1st.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company’s product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.