Brilliant Earth Group (NASDAQ:BRLT) Downgraded by Telsey Advisory Group to Market Perform

Telsey Advisory Group cut shares of Brilliant Earth Group (NASDAQ:BRLT) from an outperform rating to a market perform rating in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $2.00 price objective on the stock, down from their prior price objective of $3.00.

Brilliant Earth Group Stock Performance

Brilliant Earth Group stock opened at $1.97 on Thursday. Brilliant Earth Group has a 52-week low of $1.52 and a 52-week high of $3.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27. The stock has a fifty day moving average price of $1.79 and a two-hundred day moving average price of $2.04. The firm has a market capitalization of $194.15 million, a P/E ratio of 65.69 and a beta of 1.68.

Institutional Trading of Brilliant Earth Group

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in Brilliant Earth Group by 9.2% during the 2nd quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after purchasing an additional 10,000 shares in the last quarter. Privium Fund Management UK Ltd bought a new position in shares of Brilliant Earth Group in the second quarter valued at about $28,000. Finally, Orion Capital Management LLC lifted its position in shares of Brilliant Earth Group by 166.0% during the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after purchasing an additional 8,300 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

About Brilliant Earth Group

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.