Digital Brands Group (NASDAQ:DBGI) Shares Set to Reverse Split on Friday, July 24th

Shares of Digital Brands Group, Inc. (NASDAQ:DBGI) are scheduled to reverse split on the morning of Friday, July 24th. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 23rd.

Digital Brands Group Stock Performance

NASDAQ:DBGI traded down $0.19 on Monday, reaching $0.45. The company’s stock had a trading volume of 2,321,001 shares, compared to its average volume of 680,178. Digital Brands Group has a 1-year low of $0.26 and a 1-year high of $18.00. The firm has a market cap of $9.61 million, a PE ratio of -0.17 and a beta of -0.04. The business’s 50-day moving average price is $0.77 and its two-hundred day moving average price is $3.78.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Brands Group in a research note on Friday. Wall Street Zen cut shares of Digital Brands Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Insider Activity

In related news, CEO John Hilburn Iv Davis acquired 618,333 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $1.13 per share, for a total transaction of $698,716.29. Following the completion of the acquisition, the chief executive officer directly owned 688,461 shares in the company, valued at approximately $777,960.93. This trade represents a 881.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new stake in shares of Digital Brands Group during the first quarter worth approximately $29,000. Fifth Third Bancorp acquired a new stake in Digital Brands Group during the 1st quarter worth approximately $432,000. Connective Capital Management LLC acquired a new stake in Digital Brands Group during the 4th quarter worth approximately $876,000. Finally, Geode Capital Management LLC bought a new stake in Digital Brands Group in the 4th quarter valued at $890,000. 1.56% of the stock is owned by institutional investors.

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.