Brilliant Earth Group (NASDAQ:BRLT) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Brilliant Earth Group (NASDAQ:BRLT) in a research report sent to investors on Friday, Benzinga reports. Telsey Advisory Group currently has a $4.00 price target on the stock.

A number of other brokerages also recently issued reports on BRLT. KeyCorp reduced their price target on Brilliant Earth Group from $6.00 to $3.00 and set an overweight rating on the stock in a report on Monday, April 29th. TD Cowen dropped their price target on Brilliant Earth Group from $3.40 to $3.00 and set a market perform rating for the company in a research note on Friday, March 15th.

Brilliant Earth Group Stock Performance

Shares of NASDAQ:BRLT remained flat at $2.61 on Friday. The stock had a trading volume of 19,592 shares, compared to its average volume of 31,574. The stock has a market capitalization of $255.41 million, a PE ratio of 52.21 and a beta of 1.63. The business has a 50 day simple moving average of $2.80 and a 200-day simple moving average of $2.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.66 and a quick ratio of 2.17. Brilliant Earth Group has a 52-week low of $2.04 and a 52-week high of $4.29.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $124.30 million for the quarter, compared to analyst estimates of $125.10 million. Brilliant Earth Group had a return on equity of 7.19% and a net margin of 0.51%. Sell-side analysts expect that Brilliant Earth Group will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRLT. Mainsail Management Company LLC purchased a new position in Brilliant Earth Group during the third quarter valued at $94,299,000. Federated Hermes Inc. lifted its stake in shares of Brilliant Earth Group by 7.1% in the third quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock worth $354,000 after buying an additional 7,920 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in Brilliant Earth Group by 25.0% during the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Company Profile

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.