Digital Brands Group (NASDAQ:DBGI) Trading Down 3.3% – Here’s What Happened

Digital Brands Group, Inc. (NASDAQ:DBGI) traded down 3.3% on Monday . The stock traded as low as $2.87 and last traded at $2.93. 681,302 shares were traded during trading, a decline of 15% from the average session volume of 797,909 shares. The stock had previously closed at $3.03.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Digital Brands Group from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Brands Group in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Digital Brands Group Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $6.92 and its 200 day moving average is $8.15. The stock has a market capitalization of $21.38 million, a PE ratio of -0.90 and a beta of 0.38.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldstone Financial Group LLC bought a new stake in shares of Digital Brands Group during the 3rd quarter worth approximately $348,000. Geode Capital Management LLC bought a new position in Digital Brands Group in the 4th quarter valued at $890,000. Connective Capital Management LLC bought a new position in Digital Brands Group in the 4th quarter valued at $876,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in Digital Brands Group in the third quarter worth $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.