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Bullish Or Bearish For Digital Brands Group Inc. (NASDAQ: DBGI) In 2022

Digital Brands Group Inc. (NASDAQ:DBGI) shares, rose in value on Thursday, 08/04/22, with the stock price up by 16.67% to the previous day’s close as strong demand from buyers drove the stock to $0.14.

Actively observing the price movement in the last trading, the stock closed the session at $0.12, falling within a range of $0.13 and $0.149. Referring to stock’s 52-week performance, its high was $6.64, and the low was $0.10. On the whole, DBGI has fluctuated by -33.01% over the past month.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DBGI’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DBGI currently trading nearly -9.47% and -21.09% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.15, while the 7-day volatility ratio is showing 14.95% which for the 30-day chart, stands at 11.57%. Furthermore, Digital Brands Group Inc. (DBGI)’s average true range (ATR) is 0.02.

Data on historical trading for Digital Brands Group Inc. (NASDAQ:DBGI) indicates that the trading volumes over the past 10 days have averaged 6.89 million and over the past 3 months, they’ve averaged 6.54 million. According to company’s latest data on outstanding shares, there are 13.23 million shares outstanding.

Nearly 4.20% of Digital Brands Group Inc.’s shares belong to company insiders and institutional investors own 3.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.63 million shares as on Jul 14, 2022, resulting in a short ratio of 0.32. According to the data, the short interest in Digital Brands Group Inc. (DBGI) stood at 3.12% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 1.13 million. The stock has fallen by -93.91% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DBGI stock heading into the next quarter.

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