Short Interest in Digital Brands Group, Inc. (NASDAQ:DBGI) Increases By 605.7%

Digital Brands Group, Inc. (NASDAQ:DBGI) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 680,300 shares, a growth of 605.7% from the September 30th total of 96,400 shares. Based on an average daily volume of 5,320,000 shares, the short-interest ratio is currently 0.1 days. Approximately 18.0% of the company’s stock are short sold.

Digital Brands Group Stock Down 2.9 %

Shares of DBGI stock traded down $0.01 during trading on Friday, hitting $0.23. 3,115,559 shares of the company were exchanged, compared to its average volume of 2,092,555. The firm has a market capitalization of $462,518.10, a price-to-earnings ratio of -0.01 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.31. The business’s 50-day simple moving average is $0.51 and its 200 day simple moving average is $1.44. Digital Brands Group has a twelve month low of $0.15 and a twelve month high of $12.80.

Digital Brands Group (NASDAQ:DBGI) last posted its quarterly earnings results on Monday, August 19th. The company reported ($2.08) earnings per share for the quarter. The company 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%.

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 position in shares of Digital Brands Group, Inc. (NASDAQ:DBGI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 147,000 shares of the company’s stock, valued at approximately $215,000. Armistice Capital LLC owned approximately 7.47% of Digital Brands Group as of its most recent filing with the SEC. 1.56% of the stock is currently owned by institutional investors.

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.