Digital Brands Group (NASDAQ:DBGI) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Digital Brands Group (NASDAQ:DBGI) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Digital Brands Group presently has a consensus rating of “Sell”.

Digital Brands Group Stock Performance

DBGI stock opened at $1.12 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.79 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $6.26. Digital Brands Group has a twelve month low of $1.00 and a twelve month high of $18.00. The firm has a market cap of $23.97 million, a price-to-earnings ratio of -0.38 and a beta of 0.36.

Digital Brands Group (NASDAQ:DBGI) last released its earnings results on Wednesday, April 15th. The company reported $999.00 earnings per share for the quarter. Digital Brands Group had a negative return on equity of 296.72% and a negative net margin of 382.78%.

Institutional Investors Weigh In On Digital Brands Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in Digital Brands Group during the 1st quarter valued at $29,000. Fifth Third Bancorp bought a new stake in Digital Brands Group during the 1st quarter valued at $432,000. Connective Capital Management LLC bought a new stake in Digital Brands Group during the 4th quarter valued at $876,000. Geode Capital Management LLC bought a new stake in Digital Brands Group during the 4th quarter valued at $890,000. Finally, Cantor Fitzgerald L. P. bought a new stake in Digital Brands Group during the 3rd quarter valued at $221,000. 1.56% of the stock is owned by institutional investors.

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.