Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Down 16.7% in October

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

Institutional Trading of Brilliant Earth Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 10,000 shares during the period. Privium Fund Management UK Ltd bought a new stake in Brilliant Earth Group during the second quarter valued at about $28,000. Finally, Virtu Financial LLC bought a new stake in Brilliant Earth Group during the 1st quarter worth approximately $56,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

Brilliant Earth Group Stock Performance

Shares of Brilliant Earth Group stock traded down $0.03 during trading hours on Friday, reaching $1.71. 54,655 shares of the stock traded hands, compared to its average volume of 110,176. Brilliant Earth Group has a one year low of $1.52 and a one year high of $3.81. The firm has a market capitalization of $168.52 million, a price-to-earnings ratio of 57.02 and a beta of 1.59. The company has a quick ratio of 2.33, a current ratio of 2.80 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $1.86 and a 200 day moving average price of $2.14.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BRLT shares. Telsey Advisory Group restated an “outperform” rating and set a $3.00 target price on shares of Brilliant Earth Group in a research note on Friday, November 1st. William Blair cut shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

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.