Insider Buying: Digital Brands Group (NASDAQ:DBGI) CEO Buys 70,127 Shares of Stock

Digital Brands Group, Inc. (NASDAQ:DBGI) CEO John Hilburn Iv Davis bought 70,127 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $0.70 per share, for a total transaction of $49,088.90. Following the completion of the purchase, the chief executive officer directly owned 70,128 shares in the company, valued at approximately $49,089.60. The trade was a 7,012,700.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Digital Brands Group Stock Up 15.1%

Shares of NASDAQ DBGI opened at $0.99 on Tuesday. The firm has a market capitalization of $21.18 million, a P/E ratio of -0.37 and a beta of 0.17. The stock’s 50-day simple moving average is $1.31 and its two-hundred day simple moving average is $5.43. Digital Brands Group, Inc. has a twelve month low of $0.26 and a twelve month high of $18.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DBGI shares. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Monday, April 20th. Wall Street Zen lowered Digital Brands Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Digital Brands Group currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Digital Brands Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new position in Digital Brands Group during the 1st quarter valued at approximately $29,000. Cantor Fitzgerald L. P. bought a new stake in shares of Digital Brands Group in the third quarter worth $221,000. Fifth Third Bancorp bought a new stake in shares of Digital Brands Group in the first quarter worth $432,000. Connective Capital Management LLC purchased a new position in Digital Brands Group during the fourth quarter valued at $876,000. Finally, Geode Capital Management LLC purchased a new position in Digital Brands Group during the fourth quarter valued at $890,000. Hedge funds and other institutional investors own 1.56% of the company’s stock.

About Digital Brands Group

Digital Brands Group Inc (NASDAQ: DBGI) operates as a digital consumption platform focused on acquiring, operating and scaling digitally native consumer brands. The company seeks to partner with emerging and established brands across categories such as fashion, home & lifestyle, health & wellness, and consumer electronics. By leveraging a centralized operating model, Digital Brands Group aims to drive revenue growth, expand market reach and enhance customer engagement for its portfolio companies.

At the core of Digital Brands Group’s strategy is its expertise in e-commerce, digital marketing and data analytics.