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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 89,300 shares, a decrease of 10.8% from the December 15th total of 100,100 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 88,000 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

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

Brilliant Earth Group Stock Performance

BRLT stock traded up $0.06 during trading on Friday, reaching $1.86. The company had a trading volume of 105,160 shares, compared to its average volume of 66,426. The company has a market cap of $183.30 million, a price-to-earnings ratio of 62.02 and a beta of 1.61. Brilliant Earth Group has a twelve month low of $1.52 and a twelve month high of $3.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.27 and a current ratio of 2.80. The firm has a 50-day simple moving average of $1.90 and a 200-day simple moving average of $1.99.

Institutional Investors Weigh In On Brilliant Earth Group

An institutional investor recently raised its position in Brilliant Earth Group stock. Renaissance Technologies LLC increased its position in Brilliant Earth Group, Inc. (NASDAQ:BRLT) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,200 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Renaissance Technologies LLC owned approximately 0.12% of Brilliant Earth Group worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.