Digital Brands Group (NASDAQ:DBGI) Announces Earnings Results

Digital Brands Group (NASDAQ:DBGI) posted its earnings results on Wednesday. The company reported ($13.59) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $1.21 million during the quarter. Digital Brands Group had a negative net margin of 550.26% and a negative return on equity of 380.16%.

Digital Brands Group Trading Up 8.7%

Digital Brands Group stock traded up $0.95 during midday trading on Wednesday, hitting $11.85. The stock had a trading volume of 148,944 shares, compared to its average volume of 87,426. The firm’s fifty day moving average is $24.31 and its two-hundred day moving average is $76.98. The company has a market capitalization of $6.40 million and a PE ratio of -0.11. Digital Brands Group has a 52-week low of $8.37 and a 52-week high of $720.00.

Insiders Place Their Bets

In other news, CEO John Hilburn Iv Davis purchased 15,458 shares of the stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $45.20 per share, with a total value of $698,701.60. Following the completion of the acquisition, the chief executive officer directly owned 17,211 shares of the company’s stock, valued at $777,937.20. This trade represents a 881.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.01% of the stock is owned by corporate insiders.

Institutional Trading of Digital Brands Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp bought a new position in Digital Brands Group in the 1st quarter worth $432,000. Geode Capital Management LLC purchased a new position in shares of Digital Brands Group in the fourth quarter valued at about $890,000. Connective Capital Management LLC purchased a new position in shares of Digital Brands Group in the fourth quarter valued at about $876,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Digital Brands Group in the first quarter worth about $29,000. 1.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on DBGI. Wall Street Zen lowered shares of Digital Brands Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Brands Group in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Brands Group presently has a consensus 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.