Digital Brands Group (NASDAQ:DBGI) Issues Earnings Results

Digital Brands Group (NASDAQ:DBGI) issued its quarterly earnings results on Wednesday. The company reported ($1.06) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $1.32 million for the quarter. Digital Brands Group had a negative net margin of 382.78% and a negative return on equity of 296.72%.

Digital Brands Group Price Performance

DBGI traded down $0.05 during trading on Wednesday, reaching $1.02. 479,486 shares of the company traded hands, compared to its average volume of 601,555. The company has a market cap of $21.83 million, a P/E ratio of -0.35 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.79. Digital Brands Group has a 12-month low of $0.98 and a 12-month high of $18.00. The firm has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $6.13.

Wall Street Analyst Weigh In

DBGI has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Monday, April 20th. Wall Street Zen lowered Digital Brands Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Brands Group presently has an average rating of “Sell”.

Hedge Funds Weigh In On Digital Brands Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp bought a new stake in Digital Brands Group in the 1st quarter valued at $432,000. Geode Capital Management LLC bought a new position in shares of Digital Brands Group during the 4th quarter valued at about $890,000. Connective Capital Management LLC purchased a new position in shares of Digital Brands Group during the fourth quarter valued at about $876,000. Cantor Fitzgerald L. P. bought a new stake in shares of Digital Brands Group in the third quarter worth about $221,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Digital Brands Group in the first quarter worth about $29,000. Institutional investors own 1.56% of the company’s stock.

Digital Brands Group Company Profile

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.