Brokerages Set Brilliant Earth Group, Inc. (NASDAQ:BRLT) Price Target at $1.74

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been given an average rating of “Reduce” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $1.7375.

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Brilliant Earth Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a report on Friday, March 6th. Jefferies Financial Group restated a “hold” rating and set a $1.85 target price on shares of Brilliant Earth Group in a report on Thursday, March 5th. TD Cowen reduced their target price on Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating on the stock in a report on Friday, March 6th. Finally, B. Riley Financial restated a “neutral” rating and set a $1.50 target price (down from $3.00) on shares of Brilliant Earth Group in a report on Friday, March 6th.

Brilliant Earth Group Stock Down 0.9%

Brilliant Earth Group stock opened at $1.12 on Wednesday. The business’s 50-day simple moving average is $1.29 and its 200 day simple moving average is $1.49. The stock has a market cap of $113.24 million, a price-to-earnings ratio of -3.61 and a beta of 1.36. Brilliant Earth Group has a 12-month low of $1.11 and a 12-month high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $99.50 million for the quarter, compared to analysts’ expectations of $98.16 million. Brilliant Earth Group had a negative return on equity of 18.23% and a negative net margin of 0.71%. As a group, sell-side analysts expect that Brilliant Earth Group will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Brilliant Earth Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRLT. Virtu Financial LLC acquired a new stake in Brilliant Earth Group in the 3rd quarter valued at approximately $32,000. Algert Global LLC acquired a new position in shares of Brilliant Earth Group during the 3rd quarter worth approximately $40,000. Squarepoint Ops LLC acquired a new position in shares of Brilliant Earth Group during the 3rd quarter worth approximately $81,000. Millennium Management LLC acquired a new position in shares of Brilliant Earth Group during the 3rd quarter worth approximately $84,000. Finally, Susquehanna International Group LLP increased its position in shares of Brilliant Earth Group by 257.0% during the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after purchasing an additional 37,774 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

About Brilliant Earth Group

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.