Digital Brands Group (NASDAQ:DBGI) Trading 2.1% Higher – Still a Buy?

Digital Brands Group, Inc. (NASDAQ:DBGI)’s stock price shot up 2.1% during trading on Monday . The company traded as high as $12.09 and last traded at $11.92. 72,599 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 121,310 shares. The stock had previously closed at $11.67.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Brands Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Digital Brands Group presently has an average rating of “Sell”.

Digital Brands Group Stock Up 2.1%

The firm has a market capitalization of $97.62 million, a price-to-earnings ratio of -4.10 and a beta of 0.39. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $8.31 and its 200 day moving average price is $9.17.

Digital Brands Group (NASDAQ:DBGI) last posted its quarterly earnings results on Friday, November 14th. The company reported ($1.18) earnings per share for the quarter. The firm had revenue of $1.65 million for the quarter. Digital Brands Group had a negative net margin of 164.57% and a negative return on equity of 186.24%.

Hedge Funds Weigh In On Digital Brands Group

An institutional investor recently bought a new position in Digital Brands Group stock. Cantor Fitzgerald L. P. acquired a new stake in shares of Digital Brands Group, Inc. (NASDAQ:DBGI) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,000 shares of the company’s stock, valued at approximately $221,000. Cantor Fitzgerald L. P. owned 0.43% 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.

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.