Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Declines By 70.3%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 44,701 shares, a decline of 70.3% from the July 15th total of 150,305 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 45,457 shares, the short-interest ratio is presently 1.0 days.

Insider Activity at Brilliant Earth Group

In related news, Director Gavin Turner sold 50,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $1.29, for a total transaction of $64,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 88,356 shares of company stock valued at $104,807 over the last 90 days. Insiders own 83.20% of the company’s stock.

Institutional Investors Weigh In On Brilliant Earth Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in shares of Brilliant Earth Group by 58.0% during the 4th quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock worth $109,000 after acquiring an additional 22,793 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Brilliant Earth Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock valued at $382,000 after purchasing an additional 22,000 shares in the last quarter. Potomac Capital Management Inc. bought a new stake in Brilliant Earth Group during the 4th quarter worth approximately $422,000. Susquehanna International Group LLP grew its stake in shares of Brilliant Earth Group by 257.0% in the third 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. Finally, Millennium Management LLC bought a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at about $84,000. Institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Price Performance

Brilliant Earth Group stock traded down $0.04 during trading hours on Friday, hitting $1.32. The company had a trading volume of 42,246 shares, compared to its average volume of 77,791. The firm has a market cap of $133.47 million, a PE ratio of -4.55 and a beta of 1.38. The firm has a 50-day moving average of $1.15 and a 200 day moving average of $1.30. Brilliant Earth Group has a one year low of $1.00 and a one year high of $3.10.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $115.11 million during the quarter, compared to the consensus estimate of $111.39 million. Brilliant Earth Group had a negative return on equity of 15.48% and a negative net margin of 0.66%. As a group, research analysts expect that Brilliant Earth Group will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings cut Brilliant Earth Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Brilliant Earth Group presently has a consensus rating of “Reduce” and a consensus price target of $1.74.

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.