Digital Brands Group Inc [NASDAQ: DBGI] price surged by 139.09 percent to reach at $3.98. The company report on February 13, 2024 at 8:30 AM that DBGI Reaffirms its 2024 Guidance and Commits to No Equity Offerings for 2024.
Digital Brands Group, Inc. (“we”, “us”, “DBG” or the “Company”) (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, announced today that it is re-affirming its fiscal year 2024 forecast of $27 million to $30 million in revenue, $6 million to $7 million in internal free cash flow and $1.5 million to $2.0 million in ebitda.
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Additionally, the Company commits to no equity offerings for 2024.
Guru’s Opinion on Digital Brands Group Inc [DBGI]:
The Average True Range (ATR) for Digital Brands Group Inc is set at 0.99, with the Price to Sales ratio for DBGI stock in the period of the last 12 months amounting to 0.36. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 1.24.
DBGI Stock Performance Analysis:
Digital Brands Group Inc [DBGI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 162.45. With this latest performance, DBGI shares gained by 145.52% in over the last four-week period, additionally sinking by -36.13% over the last 6 months – not to mention a drop of -88.39% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DBGI stock in for the last two-week period is set at 87.64, with the RSI for the last a single of trading hit 93.79, and the three-weeks RSI is set at 80.17 for Digital Brands Group Inc [DBGI]. The present Moving Average for the last 50 days of trading for this stock 3.24, while it was recorded at 3.57 for the last single week of trading, and 10.11 for the last 200 days.
Insight into Digital Brands Group Inc Fundamentals:
Digital Brands Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.13 and a Current Ratio set at 0.34.
Digital Brands Group Inc [DBGI] Institutonal Ownership Details
The top three institutional holders of DBGI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DBGI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DBGI stock with ownership which is approximately 5.8325%.
