Digital Brands Group Stock to Reverse Split on Friday, July 24th (NASDAQ:DBGI)

Digital Brands Group, Inc. (NASDAQ:DBGI) shares are scheduled to reverse split on Friday, July 24th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 23rd.

Digital Brands Group Price Performance

DBGI stock traded down $0.19 during midday trading on Monday, hitting $0.45. The company’s stock had a trading volume of 2,321,001 shares, compared to its average volume of 2,727,981. The company’s fifty day moving average price is $0.79 and its 200 day moving average price is $3.85. Digital Brands Group has a twelve month low of $0.26 and a twelve month high of $18.00. The stock has a market capitalization of $9.61 million, a P/E ratio of -0.17 and a beta of -0.04.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Digital Brands Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Friday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Insider Buying and Selling

In other news, CEO John Hilburn Iv Davis acquired 618,333 shares of the stock in a transaction on Wednesday, June 10th. The shares were purchased at an average price of $1.13 per share, for a total transaction of $698,716.29. Following the transaction, the chief executive officer directly owned 688,461 shares of the company’s stock, valued at approximately $777,960.93. This represents a 881.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 modified their holdings of DBGI. Dimensional Fund Advisors LP acquired a new position in shares of Digital Brands Group during the 1st quarter worth approximately $29,000. Fifth Third Bancorp acquired a new stake in shares of Digital Brands Group in the first quarter valued at approximately $432,000. Connective Capital Management LLC bought a new stake in shares of Digital Brands Group in the fourth quarter valued at approximately $876,000. Finally, Geode Capital Management LLC bought a new stake in shares of Digital Brands Group in the fourth quarter valued at approximately $890,000. 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.