Brilliant Earth Group (NASDAQ:BRLT) Cut to Market Perform at Telsey Advisory Group

Telsey Advisory Group lowered 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.com reports. Telsey Advisory Group currently has $2.00 price objective on the stock, down from their previous price objective of $3.00.

Brilliant Earth Group Price Performance

NASDAQ:BRLT opened at $2.01 on Thursday. The firm has a market cap of $198.09 million, a PE ratio of 67.02 and a beta of 1.68. The company’s 50-day moving average price is $1.80 and its two-hundred day moving average price is $2.04. The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49. Brilliant Earth Group has a 12 month low of $1.52 and a 12 month high of $3.81.

Institutional Investors Weigh In On Brilliant Earth Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Privium Fund Management UK Ltd bought a new stake in shares of Brilliant Earth Group during the second quarter worth $28,000. Orion Capital Management LLC raised its stake in shares of Brilliant Earth Group by 166.0% in the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after acquiring an additional 8,300 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Brilliant Earth Group by 9.2% during the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after purchasing an additional 10,000 shares in the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

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.