Digital Brands Group, Inc. (NASDAQ:DBGI) Shares Shorted: Short Interest Down 38.3% in October

Digital Brands Group, Inc. (NASDAQ:DBGI) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 115,555 shares, a decrease of 38.3% from the September 30th total of 187,166 shares. Based on an average trading volume of 124,491 shares, the days-to-cover ratio is currently 0.9 days. Approximately 12.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a report on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Digital Brands Group presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Digital Brands Group

An institutional investor recently bought a new stake in Digital Brands Group stock. Dimensional Fund Advisors LP bought a new stake in Digital Brands Group, Inc. (NASDAQ:DBGI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,924 shares of the company’s stock, valued at approximately $29,000. Dimensional Fund Advisors LP owned about 0.10% of Digital Brands Group at the end of the most recent reporting period. 1.56% of the stock is currently owned by institutional investors.

Digital Brands Group Stock Down 3.5%

Shares of DBGI opened at $0.70 on Friday. The company has a market capitalization of $655,650.00, a PE ratio of -0.01 and a beta of 0.04. Digital Brands Group has a 12 month low of $0.68 and a 12 month high of $720.00. The stock’s 50-day moving average price is $4.25 and its two-hundred day moving average price is $78.11. The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of 9.04.

Digital Brands Group (NASDAQ:DBGI) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($13.59) EPS for the quarter. The company 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%.

About Digital Brands Group

Digital Brands Group, Inc is a direct-to-consumer lifestyle apparel company that develops, acquires and operates digitally focused fashion brands. Its business has centered on selling clothing and accessories through company-operated e-commerce platforms, supported by wholesale distribution and other retail channels.

The company’s brand portfolio has included DSTLD, a premium denim and essentials label; Bailey 44, a women’s contemporary apparel brand; and Stateside, which offers luxury casualwear and basics.