Digital Brands Group, Inc. (NASDAQ:DBGI) Shares Shorted: Short Interest Down 38.3% in October

Digital Brands Group, Inc. (NASDAQ:DBGI) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 115,555 shares, a drop of 38.3% from the September 30th total of 187,166 shares. Approximately 12.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 124,491 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Digital Brands Group stock. Fifth Third Bancorp acquired a new stake in Digital Brands Group, Inc. (NASDAQ:DBGI) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 240,000 shares of the company’s stock, valued at approximately $432,000. Fifth Third Bancorp owned about 1.44% of Digital Brands Group at the end of the most recent reporting period. Institutional investors own 1.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Digital Brands Group Price Performance

DBGI stock opened at $0.70 on Friday. The stock has a market cap of $655,650.00, a price-to-earnings ratio of -0.01 and a beta of 0.04. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.58 and a quick ratio of 0.41. The company has a 50 day simple moving average of $4.25 and a 200 day simple moving average of $78.11. Digital Brands Group has a 1 year low of $0.68 and a 1 year high of $720.00.

Digital Brands Group (NASDAQ:DBGI) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($13.59) earnings per share for the quarter. The firm 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%.

About Digital Brands Group

Digital Brands Group, Inc is a direct-to-consumer lifestyle apparel company that develops, acquires and operates digitally focused fashion brands. Its business has centered on selling clothing and accessories through company-operated e-commerce platforms, supported by wholesale distribution and other retail channels.

The company’s brand portfolio has included DSTLD, a premium denim and essentials label; Bailey 44, a women’s contemporary apparel brand; and Stateside, which offers luxury casualwear and basics.