Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Update

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 111,700 shares, an increase of 5.8% from the August 15th total of 105,600 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 37,800 shares, the days-to-cover ratio is presently 3.0 days.

Brilliant Earth Group Trading Up 4.1 %

Shares of BRLT traded up $0.09 during midday trading on Tuesday, reaching $2.26. The company had a trading volume of 38,728 shares, compared to its average volume of 44,152. Brilliant Earth Group has a 1-year low of $1.66 and a 1-year high of $3.81. The company has a quick ratio of 2.33, a current ratio of 2.88 and a debt-to-equity ratio of 0.52. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.43. The stock has a market cap of $221.16 million, a PE ratio of 37.67 and a beta of 1.53.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a net margin of 0.57% and a return on equity of 6.48%. The company had revenue of $105.43 million for the quarter, compared to the consensus estimate of $106.52 million. Research analysts forecast that Brilliant Earth Group will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Brilliant Earth Group

A number of institutional investors have recently made changes to their positions in BRLT. Avestar Capital LLC boosted its position in shares of Brilliant Earth Group by 25.0% during the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after purchasing an additional 5,000 shares during the period. Virtu Financial LLC acquired a new position in Brilliant Earth Group during the first quarter worth $56,000. Privium Fund Management UK Ltd purchased a new position in shares of Brilliant Earth Group during the second quarter worth $28,000. Finally, Renaissance Technologies LLC grew its stake in shares of Brilliant Earth Group by 9.2% in the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after buying an additional 10,000 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. William Blair cut shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 target price on shares of Brilliant Earth Group in a research note on Thursday, August 29th.

About Brilliant Earth Group

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