Brilliant Earth Group (NASDAQ:BRLT) Issues Earnings Results

Brilliant Earth Group (NASDAQ:BRLTGet Rating) posted its quarterly earnings data on Thursday. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02, MarketWatch Earnings reports. Brilliant Earth Group updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of NASDAQ:BRLT opened at $4.48 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.22 and a debt-to-equity ratio of 0.40. Brilliant Earth Group has a 1 year low of $4.46 and a 1 year high of $20.39. The business’s 50 day moving average price is $8.64 and its 200-day moving average price is $12.27.

A number of brokerages have recently commented on BRLT. Zacks Investment Research downgraded Brilliant Earth Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 23rd. Cowen dropped their price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday. Cowen decreased their price objective on shares of Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday. Finally, Piper Sandler raised their target price on Brilliant Earth Group from $20.00 to $21.00 in a research report on Friday, January 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.00.

In other news, CFO Jeffrey Chuenhong Kuo sold 24,200 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $8.90, for a total transaction of $215,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Just Rocks, Inc. sold 48,595 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $12.05, for a total value of $585,569.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,626 shares of company stock valued at $2,148,899.

Several institutional investors and hedge funds have recently modified their holdings of BRLT. BlackRock Inc. boosted its position in shares of Brilliant Earth Group by 3.8% during the 1st quarter. BlackRock Inc. now owns 105,913 shares of the company’s stock valued at $1,090,000 after acquiring an additional 3,883 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Brilliant Earth Group in the 1st quarter valued at about $38,000. Bank of Montreal Can purchased a new stake in shares of Brilliant Earth Group in the 1st quarter valued at approximately $1,230,000. JPMorgan Chase & Co. acquired a new stake in shares of Brilliant Earth Group during the 1st quarter worth approximately $173,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Brilliant Earth Group during the 4th quarter valued at approximately $149,000. 8.90% of the stock is owned by institutional investors and hedge funds.

About Brilliant Earth Group (Get Rating)

Brilliant Earth Group, Inc engages in the design, procurement, and retail sale of diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry.

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