Insider Buying: Digital Brands Group (NASDAQ:DBGI) CEO Purchases 70,127 Shares of Stock

Digital Brands Group, Inc. (NASDAQ:DBGI) CEO John Hilburn Iv Davis acquired 70,127 shares of the stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average price of $0.70 per share, for a total transaction of $49,088.90. Following the transaction, the chief executive officer directly owned 70,128 shares in the company, valued at approximately $49,089.60. This trade represents a 7,012,700.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Digital Brands Group Stock Performance

Shares of NASDAQ DBGI opened at $0.99 on Tuesday. Digital Brands Group, Inc. has a 52 week low of $0.26 and a 52 week high of $18.00. The stock has a market capitalization of $21.18 million, a P/E ratio of -0.37 and a beta of 0.17. The stock’s fifty day moving average is $1.31 and its 200 day moving average is $5.43.

Wall Street Analyst Weigh In

DBGI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research report on Monday, April 20th. Wall Street Zen lowered Digital Brands Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Digital Brands Group has an average rating of “Sell”.

Institutional Investors Weigh In On Digital Brands Group

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new position in shares of Digital Brands Group during the 1st quarter valued at $29,000. Fifth Third Bancorp purchased a new stake in Digital Brands Group during the 1st quarter worth about $432,000. Connective Capital Management LLC purchased a new stake in Digital Brands Group during the 4th quarter worth about $876,000. Geode Capital Management LLC purchased a new stake in Digital Brands Group during the 4th quarter worth about $890,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in Digital Brands Group during the 3rd quarter worth about $221,000. 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.