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

Digital Brands Group, Inc. (NASDAQ:DBGI) 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 short-interest ratio is presently 1.1 days. Currently, 15.0% of the shares of the company are sold short.

Digital Brands Group Price Performance

Digital Brands Group stock opened at $4.10 on Thursday. The stock has a market capitalization of $3.81 million, a P/E ratio of -0.05 and a beta of -0.02. The company’s fifty day moving average price is $13.58 and its 200 day moving average price is $44.46. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.41 and a current ratio of 0.58. Digital Brands Group has a 1 year low of $3.14 and a 1 year high of $720.00.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, Digital Brands Group presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Digital Brands Group

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

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.