Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Drops By 37.3%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 26,600 shares, a drop of 37.3% from the December 15th total of 42,400 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 54,200 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Maxim Group lowered their price objective on shares of Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

Institutional Trading of Dolphin Entertainment

A hedge fund recently bought a new stake in Dolphin Entertainment stock. SOA Wealth Advisors LLC. acquired a new position in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,108,983 shares of the company’s stock, valued at approximately $699,000. SOA Wealth Advisors LLC. owned about 9.94% of Dolphin Entertainment at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.87% of the company’s stock.

Dolphin Entertainment Price Performance

NASDAQ DLPN opened at $1.01 on Wednesday. The company has a market cap of $11.27 million, a PE ratio of -0.49 and a beta of 1.93. The firm’s 50 day moving average price is $1.13 and its 200-day moving average price is $1.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 0.76. Dolphin Entertainment has a 52-week low of $0.90 and a 52-week high of $3.32.

Dolphin Entertainment Company Profile

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.