Short Interest in Digital Brands Group, Inc. (NASDAQ:DBGI) Declines By 96.5%

Digital Brands Group, Inc. (NASDAQ:DBGI) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 12,000 shares, a drop of 96.5% from the November 30th total of 344,000 shares. Based on an average daily trading volume, of 476,400 shares, the short-interest ratio is presently 0.0 days. Currently, 1.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Digital Brands Group stock. Armistice Capital LLC purchased a new stake in Digital Brands Group, Inc. (NASDAQ:DBGI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 147,000 shares of the company’s stock, valued at approximately $215,000. Armistice Capital LLC owned 7.47% of Digital Brands Group at the end of the most recent quarter. Institutional investors and hedge funds own 1.56% of the company’s stock.

Digital Brands Group Stock Performance

NASDAQ:DBGI traded down $0.14 during mid-day trading on Friday, reaching $1.21. 19,953 shares of the company’s stock were exchanged, compared to its average volume of 131,286. Digital Brands Group has a one year low of $1.03 and a one year high of $640.00. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.06 and a current ratio of 0.29. The business’s fifty day simple moving average is $5.55 and its two-hundred day simple moving average is $34.26. The firm has a market capitalization of $934,120.00, a PE ratio of -0.09 and a beta of 1.23.

About Digital Brands Group

Digital Brands Group, Inc engages in the provision of apparel products under various brands on direct-to-consumer and wholesale basis. It operates through DSTLD, Bailey, H&J, Stateside, and Sundry segments. The company designs, manufactures, and sells women's apparel, such as tops, sweaters, dresses, jumpsuits, bottoms, sets, jackets, rompers, suiting, sportswear, shirts, jackets, pants, shorts, polos, T-shirts, skirts, athleisure bottoms, denims, and other accessory products, as well as suiting for men.