Brilliant Earth Group (NASDAQ:BRLT) stock rating downgraded by Zacks Investment Research

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Zacks Investment Research cut pieces of Bright Earth Group (NASDAQ:BRLTGet a rating) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Brilliant Earth Group Inc. is a digital first jewelry company. Brilliant Earth Group Inc. is headquartered in San Francisco, California. “

Other stock analysts have also recently released research reports on the stock. Cowen lowered his price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a Friday, May 13 research report. Piper Sandler raised her price target on shares of Brilliant Earth Group from $20.00 to $21.00 in a Friday, January 21 research report. Cowen cut his price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a Friday, May 13 research report. Finally, JPMorgan Chase & Co. cut its price target on shares of Brilliant Earth Group from $20.00 to $10.00 in a research report released Monday. One equity research analyst gave the stock a sell rating and eight gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has an average buy rating and a consensus target price of $16.33.

NASDAQ:BRLT opened at $3.97 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 2.22 and a leverage ratio of 0.40. The company has a 50-day moving average price of $8.44 and a 200-day moving average price of $12.09. Brilliant Earth Group has a fifty-two week low of $3.91 and a fifty-two week high of $20.39.

Bright Earth Group (NASDAQ:BRLTGet a rating) last released its quarterly earnings data on Thursday, May 12. The company reported earnings per share of $0.05 for the quarter, beating analyst consensus estimates of $0.03 by $0.02. On average, sell-side analysts expect Brilliant Earth Group to post earnings per share of 0.28 for the current year.

In other news, CFO Jeffrey Chuenhong Kuo sold 56,255 shares of Brilliant Earth Group in a trade on Tuesday, February 22. The shares were sold at an average price of $10.22, for a total transaction of $574,926.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. In the past ninety days, insiders have sold 141,969 shares of the company valued at $1,369,226.

Several institutional investors have recently increased or reduced their stake in the company. Westside Investment Management Inc. purchased a new stake in shares of Brilliant Earth Group during Q4 for $53,000. Acadian Asset Management LLC acquired a new stake in Brilliant Earth Group during Q1 valued at $38,000. BlackRock Inc. increased its stake in Brilliant Earth Group by 3.8% during the 1st quarter. BlackRock Inc. now owns 105,913 shares of the company worth $1,090,000 after acquiring 3,883 additional shares in the last quarter. Burleson & Company LLC acquired a new stake in Brilliant Earth Group during Q4 valued at $108,000. Finally, Wells Fargo & Company MN acquired a new stake in Brilliant Earth Group during Q4 valued at $149,000. 8.90% of the shares are held by institutional investors and hedge funds.

Bright Earth Group Company Profile (Get a rating)

Brilliant Earth Group, Inc. is in the business of designing, sourcing, and retailing diamonds, gemstones, and jewelry in the United States and around the world. Its product assortment and merchandise includes a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings and fine jewelry.

See also

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Analyst Recommendations for Brilliant Earth Group (NASDAQ:BRLT)



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