Short Interest in Digital Brands Group, Inc. (NASDAQ:DBGI) Drops By 96.5%

Digital Brands Group, Inc. (NASDAQ:DBGI) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 12,000 shares, a decline of 96.5% from the November 30th total of 344,000 shares. Based on an average daily volume of 476,400 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.5% of the company’s stock are short sold.

Digital Brands Group Stock Down 10.4 %

Shares of NASDAQ DBGI traded down $0.14 during trading hours on Friday, hitting $1.21. The company had a trading volume of 19,953 shares, compared to its average volume of 131,286. Digital Brands Group has a 1-year low of $1.03 and a 1-year high of $640.00. 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 firm’s 50 day moving average is $5.55 and its 200-day moving average is $34.26. The stock has a market capitalization of $934,120.00, a P/E ratio of -0.09 and a beta of 1.23.

Institutional Inflows and Outflows

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) during the second quarter, according to the company in 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 at the end of the most recent quarter. 1.56% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Brands Group

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.