Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Decrease in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 100,100 shares, a decrease of 15.0% from the November 30th total of 117,800 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 87,900 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group cut shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $3.00 to $2.00 in a research report on Thursday, December 19th.

Institutional Trading of Brilliant Earth Group

Several hedge funds have recently added to or reduced their stakes in BRLT. Privium Fund Management UK Ltd bought a new position in Brilliant Earth Group during the 2nd quarter worth $28,000. Orion Capital Management LLC grew 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 valued at $28,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Brilliant Earth Group by 9.2% in the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after acquiring an additional 10,000 shares in the last quarter. 70.41% of the stock is owned by institutional investors and hedge funds.

Brilliant Earth Group Stock Performance

Shares of NASDAQ:BRLT traded up $0.01 during trading on Friday, reaching $2.04. 35,548 shares of the stock were exchanged, compared to its average volume of 55,875. Brilliant Earth Group has a 12 month low of $1.52 and a 12 month high of $3.81. The stock has a 50-day moving average price of $1.82 and a 200-day moving average price of $2.03. The company has a current ratio of 2.80, a quick ratio of 2.27 and a debt-to-equity ratio of 0.49. The firm has a market cap of $201.05 million, a PE ratio of 68.02 and a beta of 1.68.

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.