Digital Brands Group (NASDAQ:DBGI) Stock Falls 5.1% – Here’s Why

Digital Brands Group, Inc. (NASDAQ:DBGI)’s share price was down 5.1% on Tuesday. The stock traded as low as $1.92 and last traded at $2.03. Approximately 153,822 shares changed hands during trading, a decline of 52% from the average session volume of 317,853 shares. The stock had previously closed at $2.14.

Analysts Set New Price Targets

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

Digital Brands Group Price Performance

The stock has a market capitalization of $1.21 million, a PE ratio of -0.01 and a beta of 0.04. The firm’s 50 day simple moving average is $5.72 and its 200 day simple moving average is $26.40. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.58 and a quick ratio of 0.41.

Digital Brands Group (NASDAQ:DBGI) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($13.59) earnings per share (EPS) for the quarter. The business had revenue of $1.21 million during the quarter. Digital Brands Group had a negative net margin of 768.25% and a negative return on equity of 561.70%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Digital Brands Group stock. Fifth Third Bancorp bought a new stake in Digital Brands Group, Inc. (NASDAQ:DBGI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 240,000 shares of the company’s stock, valued at approximately $432,000. Fifth Third Bancorp owned about 1.44% of Digital Brands Group at the end of the most recent quarter. Institutional investors and hedge funds own 1.56% of the company’s stock.

Digital Brands Group Company Profile

Digital Brands Group, Inc (NASDAQ: DBGI) was a digital-first apparel and lifestyle company that developed, acquired and operated consumer fashion brands. Its business model emphasized direct-to-consumer sales through branded e-commerce websites, supported by wholesale and other distribution channels.

The company’s brand portfolio included DSTLD, a premium denim and apparel brand, and Bailey 44, a women’s contemporary fashion label. Digital Brands Group also operated or pursued additional lifestyle brands and product categories, including apparel, accessories and related fashion offerings.