Digital Brands Group, Inc. (NASDAQ:DBGI) Stock Short Interest Declines 38.3%

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Brands Group in a research report on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Digital Brands Group has an average rating of “Sell”.

Digital Brands Group Stock Performance

NASDAQ:DBGI traded down $0.15 during trading hours on Monday, reaching $0.56. The company had a trading volume of 490,749 shares, compared to its average volume of 299,241. Digital Brands Group has a 1-year low of $0.55 and a 1-year high of $720.00. The firm has a market cap of $520,521.00, a PE ratio of -0.01 and a beta of -0.08. The business’s 50 day moving average price is $4.25 and its 200-day moving average price is $78.11. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.58 and a quick ratio of 0.41.

Digital Brands Group (NASDAQ:DBGI) last released its quarterly earnings data on Wednesday, August 19th. The company reported ($13.59) EPS for the quarter. The company had revenue of $1.21 million during the quarter. Digital Brands Group had a negative return on equity of 561.70% and a negative net margin of 768.25%.

Institutional Trading of Digital Brands Group

An institutional investor recently bought a new position in Digital Brands Group stock. Dimensional Fund Advisors LP acquired a new stake in Digital Brands Group, Inc. (NASDAQ:DBGI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,924 shares of the company’s stock, valued at approximately $29,000. Dimensional Fund Advisors LP owned approximately 0.10% of Digital Brands Group as of its most recent filing with the Securities and Exchange Commission (SEC). 1.56% of the stock is owned by institutional investors and hedge funds.

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.