Digital Brands Group (NASDAQ:DBGI) Releases Earnings Results

Digital Brands Group (NASDAQ:DBGI) issued its quarterly earnings results on Wednesday. The company reported ($1.06) EPS for the quarter, FiscalAI reports. The business had revenue of $1.32 million for the quarter. Digital Brands Group had a negative net margin of 550.26% and a negative return on equity of 317.14%.

Digital Brands Group Trading Down 56.2%

Shares of DBGI stock opened at $0.45 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.79 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $1.79 and a two-hundred day moving average price of $6.03. Digital Brands Group has a 12-month low of $0.35 and a 12-month high of $18.00. The firm has a market cap of $9.57 million, a P/E ratio of -0.15 and a beta of 0.36.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Brands Group in a research report on Monday, April 20th. Wall Street Zen cut Digital Brands Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Digital Brands Group

Hedge funds have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. purchased a new position in shares of Digital Brands Group in the third quarter worth about $221,000. Geode Capital Management LLC purchased a new position in Digital Brands Group during the 4th quarter valued at about $890,000. Dimensional Fund Advisors LP purchased a new position in Digital Brands Group during the 1st quarter valued at about $29,000. Fifth Third Bancorp purchased a new position in shares of Digital Brands Group during the 1st quarter worth approximately $432,000. Finally, Connective Capital Management LLC purchased a new position in shares of Digital Brands Group during the 4th quarter worth approximately $876,000. 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.