Insider Buying: Digital Brands Group (NASDAQ:DBGI) CEO Acquires $49,088.90 in Stock

Digital Brands Group, Inc. (NASDAQ:DBGI) CEO John Hilburn Iv Davis bought 70,127 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $0.70 per share, for a total transaction of $49,088.90. Following the transaction, the chief executive officer owned 70,128 shares in the company, valued at $49,089.60. The trade was a 7,012,700.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Digital Brands Group Stock Performance

Shares of Digital Brands Group stock opened at $0.97 on Friday. The business’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $5.30. Digital Brands Group, Inc. has a 52-week low of $0.26 and a 52-week high of $18.00. The firm has a market cap of $20.82 million, a PE ratio of -0.36 and a beta of 0.17.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DBGI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Brands Group in a research report on Monday, April 20th. Wall Street Zen downgraded Digital Brands Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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.