Digital Brands Group (NASDAQ:DBGI) Cut to Sell at Wall Street Zen

Digital Brands Group (NASDAQ:DBGI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Brands Group in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Digital Brands Group Trading Up 0.8%

DBGI opened at $5.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.01. The firm has a market cap of $42.67 million, a price-to-earnings ratio of -1.79 and a beta of 0.29. Digital Brands Group has a 12 month low of $1.77 and a 12 month high of $18.00. The stock has a fifty day moving average price of $9.98 and a 200-day moving average price of $8.93.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cantor Fitzgerald L. P. purchased a new position in shares of Digital Brands Group in the third quarter worth about $221,000. Goldstone Financial Group LLC purchased a new stake in Digital Brands Group in the third quarter valued at approximately $348,000. Connective Capital Management LLC acquired a new position in Digital Brands Group in the 4th quarter worth approximately $876,000. Finally, Geode Capital Management LLC acquired a new position in Digital Brands Group in the 4th quarter worth approximately $890,000. 1.56% of the stock is owned by institutional investors and hedge funds.

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.