Brilliant Earth Group (NASDAQ:BRLT) Trading 4.2% Higher – What’s Next?

Brilliant Earth Group, Inc. (NASDAQ:BRLT) shot up 4.2% on Monday . The company traded as high as $1.50 and last traded at $1.48. 18,008 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 65,214 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

A number of equities analysts have commented on BRLT shares. Jefferies Financial Group downgraded shares of Brilliant Earth Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $4.00 to $1.60 in a report on Tuesday, February 4th. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a research note on Thursday, March 13th.

Brilliant Earth Group Stock Up 4.2 %

The company has a market cap of $147.10 million, a price-to-earnings ratio of 49.35 and a beta of 1.44. The firm’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $1.72. The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49.

Insiders Place Their Bets

In other news, insider Sharon Dziesietnik sold 20,792 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.50, for a total transaction of $31,188.00. Following the completion of the sale, the insider now directly owns 371,329 shares of the company’s stock, valued at $556,993.50. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 84.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors have recently bought and sold shares of the stock. Boston Partners acquired a new position in Brilliant Earth Group during the fourth quarter valued at $324,000. Klingman & Associates LLC bought a new stake in Brilliant Earth Group during the fourth quarter valued at about $193,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Brilliant Earth Group in the fourth quarter valued at about $128,000. Mariner LLC bought a new position in shares of Brilliant Earth Group in the fourth quarter worth about $105,000. Finally, Impact Investors Inc acquired a new position in shares of Brilliant Earth Group during the 4th quarter worth about $103,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

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.