Digital Brands Group, Inc. (NASDAQ:DBGI) Short Interest Down 31.0% in April

Digital Brands Group, Inc. (NASDAQ:DBGIGet Rating) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 326,400 shares, a decline of 31.0% from the April 15th total of 473,200 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 4.0% of the shares of the stock are sold short.

Digital Brands Group stock remained flat at $$0.24 during midday trading on Friday. The company had a trading volume of 4,412,940 shares, compared to its average volume of 2,914,058. Digital Brands Group has a twelve month low of $0.19 and a twelve month high of $8.80. The stock’s 50-day moving average price is $1.12 and its 200-day moving average price is $1.83. The company has a debt-to-equity ratio of 8.90, a quick ratio of 0.06 and a current ratio of 0.14. The firm has a market capitalization of $3.32 million and a P/E ratio of -0.03.

Institutional investors have recently bought and sold shares of the stock. LPL Financial LLC purchased a new position in Digital Brands Group during the third quarter worth about $91,000. Citadel Advisors LLC purchased a new position in shares of Digital Brands Group in the 3rd quarter worth about $82,000. Two Sigma Advisers LP purchased a new position in shares of Digital Brands Group in the 3rd quarter worth about $45,000. BlackRock Inc. boosted its holdings in shares of Digital Brands Group by 229.6% in the 4th quarter. BlackRock Inc. now owns 18,565 shares of the company’s stock worth $43,000 after purchasing an additional 12,932 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Digital Brands Group in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 15.35% of the company’s stock.

Digital Brands Group Company Profile (Get Rating)

Digital Brands Group, Inc provides apparel under various brands on direct-to-consumer and wholesale basis. The company offers denims under the DSTLD brand; and luxury men's suiting under the ACE Studios brand. It also designs, manufactures, and sells women's apparel, such as dresses, tops, jumpsuits, bottoms, sets, jackets, and rompers under the Bailey brand.

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