Digital Brands Group (NASDAQ:DBGI) Stock Price Up 15.1% – Time to Buy?

Digital Brands Group, Inc. (NASDAQ:DBGI)’s stock price shot up 15.1% during mid-day trading on Monday . The stock traded as high as $0.9899 and last traded at $0.9896. 4,031,532 shares changed hands during trading, a decline of 69% from the average session volume of 13,035,030 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DBGI. Wall Street Zen downgraded shares of Digital Brands Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Brands Group in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Digital Brands Group currently has a consensus rating of “Sell”.

Digital Brands Group Price Performance

The firm has a market capitalization of $21.18 million, a price-to-earnings ratio of -0.37 and a beta of 0.17. The stock has a fifty day moving average of $1.31 and a two-hundred day moving average of $5.43.

Institutional Trading of Digital Brands Group

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in Digital Brands Group during the first quarter valued at $29,000. Cantor Fitzgerald L. P. bought a new stake in Digital Brands Group during the third quarter valued at $221,000. Connective Capital Management LLC bought a new stake in Digital Brands Group during the fourth quarter valued at $876,000. Geode Capital Management LLC bought a new stake in Digital Brands Group during the fourth quarter valued at $890,000. Finally, Fifth Third Bancorp bought a new stake in Digital Brands Group during the first quarter valued at $432,000. Institutional investors own 1.56% of the company’s stock.

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.