Digital Brands Group (NASDAQ:DBGI) Trading Down 13.8% – What’s Next?

Digital Brands Group, Inc. (NASDAQ:DBGI)’s share price was down 13.8% on Monday . The stock traded as low as $4.99 and last traded at $5.17. Approximately 976,201 shares changed hands during trading, a decline of 47% from the average daily volume of 1,848,214 shares. The stock had previously closed at $6.00.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Brands Group in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Digital Brands Group Price Performance

The company has a 50-day moving average of $14.09 and a 200-day moving average of $45.26. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.41 and a current ratio of 0.58. The firm has a market capitalization of $3.83 million, a price-to-earnings ratio of -0.05 and a beta of -0.02.

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

Hedge Funds Weigh In On Digital Brands Group

A number of large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in shares of Digital Brands Group in the first quarter valued at about $432,000. Dimensional Fund Advisors LP bought a new position in shares of Digital Brands Group during the first quarter worth about $29,000. Finally, Connective Capital Management LLC bought a new position in shares of Digital Brands Group during the fourth quarter worth about $876,000. 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.