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

Digital Brands Group, Inc. (NASDAQ:DBGI) saw a significant decrease in short interest in 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 company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Digital Brands Group presently has a consensus rating of “Sell”.

Institutional Trading of Digital Brands Group

An institutional investor recently bought a new position in Digital Brands Group stock. Fifth Third Bancorp purchased a new stake in shares of Digital Brands Group, Inc. (NASDAQ:DBGI) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 240,000 shares of the company’s stock, valued at approximately $432,000. Fifth Third Bancorp owned approximately 1.44% of Digital Brands Group at the end of the most recent reporting period. Institutional investors own 1.56% of the company’s stock.

Digital Brands Group Stock Performance

Shares of DBGI opened at $0.56 on Tuesday. The firm has a market capitalization of $522,759.80, a P/E ratio of -0.01 and a beta of 0.04. Digital Brands Group has a 52 week low of $0.55 and a 52 week high of $720.00. The stock has a 50 day moving average price of $4.09 and a two-hundred day moving average price of $74.56. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.41 and a current ratio of 0.58.

Digital Brands Group (NASDAQ:DBGI) last announced its earnings results on Wednesday, August 19th. The company reported ($13.59) earnings per share (EPS) 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 for the quarter.

Digital Brands Group Company Profile

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.