Digital Brands Group (NASDAQ:DBGI) Trading Up 7.5% – Here’s Why

Shares of Digital Brands Group, Inc. (NASDAQ:DBGI) rose 7.5% during mid-day trading on Thursday . The company traded as high as $3.60 and last traded at $3.43. Approximately 972,597 shares traded hands during mid-day trading, an increase of 50% from the average daily volume of 649,065 shares. The stock had previously closed at $3.19.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Brands Group in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Digital Brands Group Price Performance

The company’s 50-day simple moving average is $10.30 and its 200 day simple moving average is $9.15. The company has a market capitalization of $28.09 million, a P/E ratio of -1.18 and a beta of 0.29. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.01.

Digital Brands Group (NASDAQ:DBGI) last released its quarterly earnings data on Friday, November 14th. The company reported ($1.18) earnings per share (EPS) for the quarter. The business had revenue of $1.65 million during the quarter. Digital Brands Group had a negative net margin of 164.57% and a negative return on equity of 186.24%.

Institutional Trading of Digital Brands Group

Several large investors have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. acquired a new stake in Digital Brands Group in the 3rd quarter worth approximately $221,000. Goldstone Financial Group LLC acquired a new position in Digital Brands Group during the third quarter valued at approximately $348,000. Finally, Geode Capital Management LLC bought a new position in shares of Digital Brands Group in the fourth quarter valued at approximately $890,000. Institutional investors 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.