Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Rises By 40.3%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 67,900 shares, a growth of 40.3% from the January 31st total of 48,400 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 43,100 shares, the days-to-cover ratio is presently 1.6 days.

Dolphin Entertainment Price Performance

Shares of DLPN traded up $0.01 during midday trading on Wednesday, hitting $1.04. 9,380 shares of the company traded hands, compared to its average volume of 39,813. Dolphin Entertainment has a one year low of $0.90 and a one year high of $3.04. The firm has a market cap of $11.55 million, a P/E ratio of -0.50 and a beta of 1.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a 50-day moving average of $1.06 and a 200-day moving average of $1.19.

Analyst Upgrades and Downgrades

Separately, Maxim Group lowered their target price on shares of Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 15th.

Institutional Trading of Dolphin Entertainment

An institutional investor recently bought a new position in Dolphin Entertainment stock. SOA Wealth Advisors LLC. purchased a new position in Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,108,983 shares of the company’s stock, valued at approximately $699,000. SOA Wealth Advisors LLC. owned 9.94% of Dolphin Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC). 8.87% of the stock is owned by institutional investors and hedge funds.

About Dolphin Entertainment

Dolphin Entertainment, Inc, together with its subsidiaries, operates as an independent entertainment marketing and production company in the United States. The company operates in two segments, Entertainment Publicity, and Marketing and Content Production. The Entertainment Publicity and Marketing segment provides diversified marketing services, including public relations, entertainment and hospitality content marketing, strategic communications, strategic marketing consulting, social media and influencer marketing, digital marketing, creative branding, talent publicity, and entertainment marketing services, as well as produces promotional video content.