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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 195,800 shares, a drop of 35.5% from the August 31st total of 303,700 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 0.2 days. Approximately 1.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen raised Brilliant Earth Group to a “strong-buy” rating in a research report on Saturday, September 20th. Cowen reaffirmed a “hold” rating on shares of Brilliant Earth Group in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brilliant Earth Group in a report on Saturday, September 27th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $2.00 target price on shares of Brilliant Earth Group in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.80.

Hedge Funds Weigh In On Brilliant Earth Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Klingman & Associates LLC raised its stake in shares of Brilliant Earth Group by 61.5% in the second quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock worth $204,000 after acquiring an additional 56,451 shares during the last quarter. Millennium Management LLC bought a new position in shares of Brilliant Earth Group in the 4th quarter valued at about $65,000. Finally, Jane Street Group LLC bought a new stake in shares of Brilliant Earth Group during the fourth quarter worth approximately $25,000. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Stock Down 1.9%

Shares of BRLT stock opened at $2.03 on Monday. The company has a market capitalization of $202.50 million, a P/E ratio of -67.67 and a beta of 1.37. Brilliant Earth Group has a 12-month low of $1.25 and a 12-month high of $3.10. The firm has a 50-day moving average price of $2.22 and a 200 day moving average price of $1.73.

Brilliant Earth Group Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 22nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 22nd. Brilliant Earth Group’s dividend payout ratio (DPR) is currently -833.33%.

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.