Digital Brands Group (NASDAQ:DBGI) Trading Up 4.1% – What’s Next?

Digital Brands Group, Inc. (NASDAQ:DBGI)’s share price was up 4.1% during mid-day trading on Tuesday . The company traded as high as $1.7650 and last traded at $1.76. Approximately 270,040 shares traded hands during trading, a decline of 45% from the average daily volume of 494,692 shares. The stock had previously closed at $1.69.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DBGI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Digital Brands Group from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Brands Group currently has an average rating of “Sell”.

Digital Brands Group Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.63 and a current ratio of 0.81. The company has a market cap of $14.41 million, a price-to-earnings ratio of -0.60 and a beta of 0.53. The business has a fifty day moving average price of $3.98 and a 200 day moving average price of $7.40.

Institutional Investors Weigh In On Digital Brands Group

Hedge funds have recently made changes to their positions in the stock. Cantor Fitzgerald L. P. acquired a new stake in shares of Digital Brands Group in the 3rd quarter valued at approximately $221,000. Goldstone Financial Group LLC acquired a new stake in shares of Digital Brands Group in the 3rd quarter valued at approximately $348,000. Connective Capital Management LLC acquired a new stake in shares of Digital Brands Group in the 4th quarter valued at approximately $876,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Digital Brands Group in the 4th quarter valued at approximately $890,000. 1.56% of the stock is currently owned by institutional investors and hedge funds.

Digital Brands Group Company Profile

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.