Digital Brands Group, Inc. (NASDAQ:DBGI) Sees Significant Increase in Short Interest

Digital Brands Group, Inc. (NASDAQ:DBGI) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 72,100 shares, an increase of 50.8% from the August 15th total of 47,800 shares. Based on an average daily volume of 109,000 shares, the short-interest ratio is presently 0.7 days. Approximately 2.8% of the shares of the company are sold short.

Digital Brands Group Stock Performance

Shares of Digital Brands Group stock traded up $0.05 during trading hours on Friday, hitting $0.56. 603,700 shares of the company were exchanged, compared to its average volume of 510,687. The stock has a market capitalization of $1.46 million, a price-to-earnings ratio of -0.03 and a beta of 1.09. The business has a 50-day moving average of $1.12 and a 200-day moving average of $2.19. Digital Brands Group has a 1 year low of $0.47 and a 1 year high of $12.80. The company has a current ratio of 0.31, a quick ratio of 0.07 and a debt-to-equity ratio of 0.05.

Digital Brands Group (NASDAQ:DBGI) last issued its earnings results on Monday, August 19th. The company reported ($2.08) earnings per share for the quarter. Digital Brands Group had a negative return on equity of 327.13% and a negative net margin of 102.54%. The firm had revenue of $3.40 million during the quarter.

Institutional Trading of Digital Brands Group

An institutional investor recently bought a new position in Digital Brands Group stock. Armistice Capital LLC purchased a new stake in shares of Digital Brands Group, Inc. (NASDAQ:DBGI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 147,000 shares of the company’s stock, valued at approximately $215,000. Armistice Capital LLC owned approximately 7.47% of Digital Brands Group as of its most recent SEC filing. 1.56% of the stock is currently owned by institutional investors and hedge funds.

About Digital Brands Group

Digital Brands Group, Inc engages in the provision of apparel products under various brands on direct-to-consumer and wholesale basis. It operates through DSTLD, Bailey, H&J, Stateside, and Sundry segments. The company designs, manufactures, and sells women's apparel, such as tops, sweaters, dresses, jumpsuits, bottoms, sets, jackets, rompers, suiting, sportswear, shirts, jackets, pants, shorts, polos, T-shirts, skirts, athleisure bottoms, denims, and other accessory products, as well as suiting for men.