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

Brilliant Earth Group (NASDAQ:BRLT) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat reports. They presently have a $1.60 target price on the stock, down from their previous target price of $4.00. Jefferies Financial Group’s price objective would indicate a potential downside of 4.76% from the company’s current price.

Separately, Telsey Advisory Group lowered shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $3.00 to $2.00 in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.40.

Brilliant Earth Group Stock Performance

Shares of BRLT stock opened at $1.68 on Tuesday. The firm has a market capitalization of $165.56 million, a price-to-earnings ratio of 56.02 and a beta of 1.58. The stock has a fifty day moving average of $1.94 and a 200 day moving average of $1.96. Brilliant Earth Group has a 52 week low of $1.52 and a 52 week high of $3.34. The company has a quick ratio of 2.27, a current ratio of 2.80 and a debt-to-equity ratio of 0.49.

Hedge Funds Weigh In On Brilliant Earth Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Klingman & Associates LLC bought a new position in shares of Brilliant Earth Group in the 4th quarter worth about $193,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Brilliant Earth Group during the fourth quarter valued at approximately $128,000. Impact Investors Inc bought a new stake in shares of Brilliant Earth Group in the 4th quarter worth approximately $103,000. Renaissance Technologies LLC grew its stake in shares of Brilliant Earth Group by 9.2% in the 2nd 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. Finally, Orion Capital Management LLC raised its stake in Brilliant Earth Group by 166.0% during the third quarter. Orion Capital Management LLC now owns 13,300 shares of the company’s stock valued at $28,000 after buying an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

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.