Short Interest in Digital Brands Group, Inc. (NASDAQ:DBGI) Increases By 97.8%

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

Digital Brands Group Trading Down 9.2%

DBGI traded down $0.41 during trading on Wednesday, reaching $4.09. 207,606 shares of the company’s stock were exchanged, compared to its average volume of 293,524. 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 has a one year low of $3.14 and a one year high of $720.00. The firm has a fifty day moving average price of $14.09 and a two-hundred day moving average price of $45.26. The stock has a market capitalization of $3.80 million, a PE ratio of -0.05 and a beta of -0.02.

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

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of Digital Brands Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new position in shares of Digital Brands Group in the 1st quarter worth approximately $29,000. Fifth Third Bancorp acquired a new position in Digital Brands Group in the first quarter valued at $432,000. Finally, Connective Capital Management LLC bought a new stake in Digital Brands Group during the fourth quarter valued at $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.