Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Declines By 13.8%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 63,200 shares, a decline of 13.8% from the January 31st total of 73,300 shares. Based on an average daily trading volume, of 89,000 shares, the short-interest ratio is presently 0.7 days. Currently, 0.5% of the shares of the company are sold short.

Insider Transactions at Brilliant Earth Group

In related news, insider Sharon Dziesietnik sold 20,792 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.50, for a total value of $31,188.00. Following the transaction, the insider now directly owns 371,329 shares of the company’s stock, valued at $556,993.50. This represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 84.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BRLT. Jane Street Group LLC purchased a new stake in Brilliant Earth Group in the 4th quarter worth approximately $25,000. Orion Capital Management LLC lifted its stake in shares of Brilliant Earth Group by 166.0% in the 3rd quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock valued at $28,000 after purchasing an additional 8,300 shares during the period. XTX Topco Ltd purchased a new stake in Brilliant Earth Group during the fourth quarter worth $38,000. Millennium Management LLC acquired a new stake in Brilliant Earth Group during the fourth quarter valued at $65,000. Finally, Impact Investors Inc purchased a new position in Brilliant Earth Group in the fourth quarter valued at $103,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BRLT shares. Telsey Advisory Group lowered Brilliant Earth Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $3.00 to $2.00 in a report on Thursday, December 19th. Jefferies Financial Group downgraded shares of Brilliant Earth Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $4.00 to $1.60 in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.40.

Brilliant Earth Group Stock Performance

NASDAQ BRLT opened at $1.31 on Wednesday. The firm has a market capitalization of $129.10 million, a P/E ratio of 43.68 and a beta of 1.58. The stock has a 50-day simple moving average of $1.77 and a two-hundred day simple moving average of $1.85. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.27 and a current ratio of 2.80. Brilliant Earth Group has a fifty-two week low of $1.25 and a fifty-two week high of $3.21.

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.