Digital Brands Group, Inc. (NASDAQ:DBGI) Short Interest Update

Digital Brands Group, Inc. (NASDAQ:DBGI) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 140,511 shares, a growth of 97.8% from the August 15th total of 71,030 shares. Based on an average daily volume of 128,165 shares, the short-interest ratio is currently 1.1 days. Approximately 15.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Brands Group in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Digital Brands Group currently has an average rating of “Sell”.

Digital Brands Group Trading Down 16.0%

Digital Brands Group stock traded down $0.82 during midday trading on Tuesday, hitting $4.34. 230,133 shares of the stock were exchanged, compared to its average volume of 293,041. The company has a fifty day simple moving average of $14.62 and a two-hundred day simple moving average of $46.45. Digital Brands Group has a 52 week low of $3.14 and a 52 week high of $720.00. The stock has a market capitalization of $4.06 million, a PE ratio of -0.05 and a beta of -0.02. The company has a quick ratio of 0.41, a current ratio of 0.58 and a debt-to-equity ratio of 9.04.

Digital Brands Group (NASDAQ:DBGI) last issued its earnings results on Wednesday, August 19th. The company reported ($13.59) EPS for the quarter. The firm had revenue of $1.21 million during the quarter. Digital Brands Group had a negative net margin of 768.25% and a negative return on equity of 561.70%.

Institutional Trading of Digital Brands Group

Several hedge funds have recently added to or reduced their stakes in DBGI. Dimensional Fund Advisors LP bought a new position in Digital Brands Group during the first quarter worth about $29,000. Fifth Third Bancorp bought a new stake in shares of Digital Brands Group in the first quarter worth about $432,000. Finally, Connective Capital Management LLC acquired a new stake in shares of Digital Brands Group during the fourth quarter worth about $876,000. Institutional investors and hedge funds own 1.56% of the company’s stock.

Digital Brands Group Company Profile

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.