Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives Average Recommendation of “Hold” from Brokerages

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has been given an average recommendation of “Hold” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $2.50.

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 target price on shares of Brilliant Earth Group in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. Zacks Research upgraded Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Wall Street Zen downgraded shares of Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th.

Brilliant Earth Group Price Performance

Shares of NASDAQ BRLT opened at $1.55 on Monday. The firm’s 50-day moving average is $1.63 and its two-hundred day moving average is $2.05. The company has a market capitalization of $154.61 million, a PE ratio of -51.67 and a beta of 1.40. Brilliant Earth Group has a 12-month low of $1.26 and a 12-month high of $3.10.

Insider Activity

In related news, insider Sharon Dziesietnik sold 19,687 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total transaction of $26,971.19. Following the sale, the insider owned 446,736 shares in the company, valued at approximately $612,028.32. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 83.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its holdings in shares of Brilliant Earth Group by 58.0% during the fourth quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock worth $109,000 after purchasing an additional 22,793 shares during the last quarter. Renaissance Technologies LLC lifted its position in Brilliant Earth Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $382,000 after buying an additional 22,000 shares during the period. Potomac Capital Management Inc. acquired a new stake in Brilliant Earth Group in the 4th quarter worth about $422,000. Susquehanna International Group LLP grew its holdings in Brilliant Earth Group by 257.0% in the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock valued at $109,000 after buying an additional 37,774 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Brilliant Earth Group during the 3rd quarter valued at about $84,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.