Brilliant Earth Group (NASDAQ:BRLT) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Brilliant Earth Group (NASDAQ:BRLT) from a buy rating to a hold rating in a research report released on Tuesday, MarketBeat reports. They currently have $1.60 price target on the stock, down from their prior price target of $4.00.

Separately, Telsey Advisory Group lowered Brilliant Earth Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $3.00 to $2.00 in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $2.40.

Brilliant Earth Group Stock Performance

NASDAQ BRLT opened at $1.70 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27. The stock’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $1.95. The company has a market cap of $167.54 million, a PE ratio of 56.69 and a beta of 1.58. Brilliant Earth Group has a 1-year low of $1.52 and a 1-year high of $3.34.

Institutional Investors Weigh In On Brilliant Earth Group

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in Brilliant Earth Group by 9.2% during the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after buying an additional 10,000 shares during the last quarter. Orion Capital Management LLC raised its holdings in shares of Brilliant Earth Group by 166.0% during the 3rd quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock worth $28,000 after acquiring an additional 8,300 shares during the period. Impact Investors Inc acquired a new position in shares of Brilliant Earth Group during the 4th quarter valued at about $103,000. Klingman & Associates LLC purchased a new stake in shares of Brilliant Earth Group in the fourth quarter valued at about $193,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in Brilliant Earth Group during the fourth quarter worth about $128,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Brilliant Earth Group Company Profile

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.