Digital Brands Group, Inc. (NASDAQ:DBGI) Sees Large Increase in Short Interest

Digital Brands Group, Inc. (NASDAQ:DBGI) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 72,100 shares, an increase of 50.8% from the August 15th total of 47,800 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 109,000 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Digital Brands Group

An institutional investor recently bought a new position in Digital Brands Group stock. Armistice Capital LLC purchased a new stake in shares of Digital Brands Group, Inc. (NASDAQ:DBGI) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 147,000 shares of the company’s stock, valued at approximately $215,000. Armistice Capital LLC owned about 7.47% of Digital Brands Group at the end of the most recent reporting period. Institutional investors and hedge funds own 1.56% of the company’s stock.

Digital Brands Group Stock Performance

NASDAQ:DBGI opened at $0.56 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.31. Digital Brands Group has a 52-week low of $0.47 and a 52-week high of $12.80. The firm has a market cap of $1.10 million, a price-to-earnings ratio of -0.03 and a beta of 1.09. The business’s fifty day moving average is $1.12 and its 200 day moving average is $2.16.

Digital Brands Group (NASDAQ:DBGI) last announced its earnings results on Monday, August 19th. The company reported ($2.08) earnings per share for the quarter. The business had revenue of $3.40 million during the quarter. Digital Brands Group had a negative return on equity of 327.13% and a negative net margin of 102.54%.

Digital Brands Group Company Profile

Digital Brands Group, Inc engages in the provision of apparel products under various brands on direct-to-consumer and wholesale basis. It operates through DSTLD, Bailey, H&J, Stateside, and Sundry segments. The company designs, manufactures, and sells women's apparel, such as tops, sweaters, dresses, jumpsuits, bottoms, sets, jackets, rompers, suiting, sportswear, shirts, jackets, pants, shorts, polos, T-shirts, skirts, athleisure bottoms, denims, and other accessory products, as well as suiting for men.