Digital Brands Group, Inc. (NASDAQ:DBGI) Short Interest Down 90.0% in November

Posted by Amy Steele on Nov 29th, 2024

Digital Brands Group, Inc. (NASDAQ:DBGI – Get Free Report) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 124,000 shares, a decline of 90.0% from the October 31st total of 1,240,000 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 20,600,000 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On Digital Brands Group

A hedge fund recently bought a new stake in Digital Brands Group stock. Armistice Capital LLC purchased a new stake in Digital Brands Group, Inc. (NASDAQ:DBGI – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 147,000 shares of the company’s stock, valued at approximately $215,000. Armistice Capital LLC owned 7.47% of Digital Brands Group as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 1.56% of the company’s stock.

Digital Brands Group Price Performance

NASDAQ:DBGI remained flat at $0.11 during mid-day trading on Friday. 2,094,154 shares of the company were exchanged, compared to its average volume of 6,202,519. Digital Brands Group has a fifty-two week low of $0.09 and a fifty-two week high of $12.80. The stock has a market capitalization of $4.25 million, a PE ratio of -0.01 and a beta of 1.14. The company has a quick ratio of 0.06, a current ratio of 0.29 and a debt-to-equity ratio of 7.88. The business has a 50 day simple moving average of $0.21 and a 200-day simple moving average of $0.97.

About Digital Brands Group

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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.