Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Expands By 18.5%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 54,500 shares, a growth of 18.5% from the October 31st total of 46,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 35,800 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Dolphin Entertainment

An institutional investor recently bought a new position in Dolphin Entertainment stock. SOA Wealth Advisors LLC. bought 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. The institutional investor bought 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 8.87% of the company’s stock.

Dolphin Entertainment Trading Up 8.0 %

DLPN opened at $1.35 on Tuesday. The firm’s 50-day simple moving average is $1.23 and its 200-day simple moving average is $1.56. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.88. Dolphin Entertainment has a twelve month low of $0.95 and a twelve month high of $3.70.

Analyst Upgrades and Downgrades

Separately, Maxim Group lowered their price target 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.

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.