Digital Brands Group (NASDAQ:DBGI) Trading 15.1% Higher – What’s Next?

Digital Brands Group, Inc. (NASDAQ:DBGI) was up 15.1% on Monday . The stock traded as high as $0.9899 and last traded at $0.9896. Approximately 4,031,532 shares changed hands during trading, a decline of 69% from the average daily volume of 13,035,030 shares. The stock had previously closed at $0.86.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DBGI. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Monday, April 20th. 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. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Digital Brands Group has a consensus rating of “Sell”.

Digital Brands Group Stock Up 16.8%

The firm’s 50-day moving average is $1.29 and its 200-day moving average is $5.39. The company has a market capitalization of $26.75 million, a PE ratio of -0.46 and a beta of 0.17.

Insider Transactions at Digital Brands Group

In other Digital Brands Group news, CEO John Hilburn Iv Davis purchased 70,127 shares of Digital Brands Group stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average cost of $0.70 per share, for a total transaction of $49,088.90. Following the completion of the transaction, the chief executive officer directly owned 70,128 shares of the company’s stock, valued at approximately $49,089.60. The trade was a 7,012,700.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Digital Brands Group

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

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.