Digital Brands Group Shares Set to Reverse Split on Friday, July 24th (NASDAQ:DBGI)

Digital Brands Group, Inc. (NASDAQ:DBGI) shares are set to reverse split on Friday, July 24th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 23rd.

Digital Brands Group Stock Performance

Shares of NASDAQ DBGI traded down $0.19 during mid-day trading on Monday, reaching $0.45. The company had a trading volume of 2,321,001 shares, compared to its average volume of 2,727,981. The firm has a market cap of $9.61 million, a price-to-earnings ratio of -0.17 and a beta of -0.04. The business’s 50-day simple moving average is $0.79 and its 200 day simple moving average is $3.85. Digital Brands Group has a one year low of $0.26 and a one year high of $18.00.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DBGI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Friday. Wall Street Zen downgraded shares of Digital Brands Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Insider Buying and Selling at Digital Brands Group

In other Digital Brands Group news, CEO John Hilburn Iv Davis acquired 618,333 shares of Digital Brands Group stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $1.13 per share, with a total value of $698,716.29. Following the completion of the purchase, the chief executive officer directly owned 688,461 shares of the company’s stock, valued at $777,960.93. This represents a 881.72% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Digital Brands Group

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new stake in shares of Digital Brands Group during the 1st quarter valued at approximately $29,000. Fifth Third Bancorp acquired a new position in Digital Brands Group during the 1st quarter worth approximately $432,000. Connective Capital Management LLC bought a new position in Digital Brands Group in the 4th quarter valued at approximately $876,000. Finally, Geode Capital Management LLC acquired a new stake in Digital Brands Group in the fourth quarter valued at approximately $890,000. 1.56% of the stock is currently owned by institutional investors and hedge funds.

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.