Digital Brands Group (NASDAQ:DBGI) Trading Down 13.8% – Here’s What Happened

Digital Brands Group, Inc. (NASDAQ:DBGI) shares fell 13.8% on Monday . The company traded as low as $4.99 and last traded at $5.17. 976,201 shares traded hands during trading, a decline of 47% from the average session volume of 1,848,214 shares. The stock had previously closed at $6.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Digital Brands Group Stock Performance

The firm has a market capitalization of $4.81 million, a PE ratio of -0.06 and a beta of -0.02. 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 business’s fifty day simple moving average is $14.62 and its 200-day simple moving average is $46.45.

Digital Brands Group (NASDAQ:DBGI) last issued its 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%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new stake in shares of Digital Brands Group in the first quarter worth about $29,000. Connective Capital Management LLC bought a new position in Digital Brands Group during the fourth quarter valued at approximately $876,000. Finally, Fifth Third Bancorp purchased a new position in Digital Brands Group during the 1st quarter valued at approximately $432,000. Hedge funds and other institutional investors own 1.56% of the company’s stock.

About Digital Brands Group

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.