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

Digital Brands Group, Inc. (NASDAQ:DBGIGet Free Report) was the target of a large increase in short interest in 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. Based on an average daily volume of 128,165 shares, the days-to-cover ratio is presently 1.1 days. Currently, 15.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Digital Brands Group

A number of institutional investors have recently added to or reduced their stakes in DBGI. Dimensional Fund Advisors LP acquired a new stake in Digital Brands Group in the first quarter valued at $29,000. Fifth Third Bancorp bought a new position in shares of Digital Brands Group in the 1st quarter valued at about $432,000. Finally, Connective Capital Management LLC acquired a new position in shares of Digital Brands Group during the 4th quarter worth about $876,000. 1.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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.com, the stock has an average rating of “Sell”.

Read Our Latest Report on Digital Brands Group

Digital Brands Group Stock Down 16.0%

DBGI traded down $0.82 on Tuesday, hitting $4.34. 230,133 shares of the company were exchanged, compared to its average volume of 293,041. The stock’s fifty day moving average is $14.62 and its 200-day moving average is $46.45. Digital Brands Group has a 12 month low of $3.14 and a 12 month high of $720.00. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.41 and a current ratio of 0.58. The company has a market cap of $4.06 million, a PE ratio of -0.05 and a beta of -0.02.

Digital Brands Group (NASDAQ:DBGIGet Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The company reported ($13.59) earnings per share for the quarter. The company 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%.

About Digital Brands Group

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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.

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