Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Increase in Short Interest

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

Brilliant Earth Group Stock Performance

Shares of BRLT stock traded up $0.04 during midday trading on Thursday, hitting $2.39. The company had a trading volume of 1,740 shares, compared to its average volume of 44,006. The stock has a market cap of $233.89 million, a price-to-earnings ratio of 39.17 and a beta of 1.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.88 and a quick ratio of 2.33. The company’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $2.43. Brilliant Earth Group has a 52-week low of $1.66 and a 52-week high of $3.81.

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

Wall Street Analyst Weigh In

BRLT has been the subject of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a research note on Thursday, August 29th. William Blair downgraded shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th.

Institutional Investors Weigh In On Brilliant Earth Group

Hedge funds have recently added to or reduced their stakes in the company. Privium Fund Management UK Ltd acquired a new position in Brilliant Earth Group during the second quarter worth $28,000. Virtu Financial LLC acquired a new position in shares of Brilliant Earth Group during the 1st quarter worth $56,000. Avestar Capital LLC grew its stake 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. Finally, Renaissance Technologies LLC increased its holdings in shares of Brilliant Earth Group by 9.2% in 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. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.