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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 89,300 shares, a drop of 10.8% from the December 15th total of 100,100 shares. Based on an average daily trading volume, of 88,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Brilliant Earth Group

An institutional investor recently raised its position in Brilliant Earth Group stock. Renaissance Technologies LLC lifted its holdings in Brilliant Earth Group, Inc. (NASDAQ:BRLT) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,200 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Renaissance Technologies LLC owned about 0.12% of Brilliant Earth Group worth $262,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 70.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group downgraded shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company 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, hitting $1.86. 105,160 shares of the company traded hands, compared to its average volume of 66,426. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.80 and a quick ratio of 2.27. Brilliant Earth Group has a 1 year low of $1.52 and a 1 year high of $3.40. The stock’s 50-day simple moving average is $1.90 and its 200 day simple moving average is $1.99. The company has a market cap of $183.30 million, a PE ratio of 62.02 and a beta of 1.61.

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.