Digital Brands Group (NASDAQ:DBGI) Shares Up 16.9% – Still a Buy?

Shares of Digital Brands Group, Inc. (NASDAQ:DBGI) were up 16.9% during trading on Friday . The company traded as high as $8.25 and last traded at $7.87. Approximately 243,813 shares were traded during trading, an increase of 266% from the average daily volume of 66,672 shares. The stock had previously closed at $6.73.

Wall Street Analysts Forecast Growth

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

Digital Brands Group Trading Up 16.9%

The stock has a market capitalization of $49.82 million, a price-to-earnings ratio of -2.70 and a beta of 0.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.81 and a quick ratio of 0.63. The business’s 50-day simple moving average is $7.77 and its two-hundred day simple moving average is $9.66.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Digital Brands Group stock. Goldstone Financial Group LLC bought a new position in Digital Brands Group, Inc. (NASDAQ:DBGI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,389 shares of the company’s stock, valued at approximately $348,000. Goldstone Financial Group LLC owned 0.94% of Digital Brands Group at the end of the most recent reporting period. 1.56% of the stock is currently owned by institutional investors.

About Digital Brands Group

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.