Digital Brands Group (NASDAQ:DBGI) Releases Quarterly Earnings Results

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

Digital Brands Group Trading Up 8.7%

Shares of NASDAQ DBGI opened at $11.85 on Thursday. The business has a 50 day simple moving average of $23.55 and a 200-day simple moving average of $74.85. Digital Brands Group has a twelve month low of $8.37 and a twelve month high of $720.00. The company has a market capitalization of $6.40 million and a price-to-earnings ratio of -0.11.

Analyst Ratings Changes

DBGI has been the subject of a number of analyst reports. 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 reiterated a “sell (e+)” rating on shares of Digital Brands Group in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Insider Buying and Selling at Digital Brands Group

In related news, CEO John Hilburn Iv Davis acquired 15,458 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $45.20 per share, for a total transaction of $698,701.60. Following the purchase, the chief executive officer directly owned 17,211 shares in the company, valued at $777,937.20. This represents a 881.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.01% of the company’s stock.

Institutional Trading of Digital Brands Group

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

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.