Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Drops By 16.5%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 42,400 shares, a decrease of 16.5% from the November 30th total of 50,800 shares. Based on an average daily trading volume, of 47,100 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.6% of the company’s shares are short sold.

Institutional Trading of Dolphin Entertainment

A hedge fund recently bought a new stake in Dolphin Entertainment stock. SOA Wealth Advisors LLC. purchased a new stake in Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission. 8.87% of the stock is currently owned by institutional investors and hedge funds.

Dolphin Entertainment Price Performance

DLPN stock remained flat at $1.14 on Friday. 47,296 shares of the company traded hands, compared to its average volume of 37,411. 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 firm has a market cap of $12.72 million, a PE ratio of -0.55 and a beta of 1.96. Dolphin Entertainment has a 1 year low of $0.90 and a 1 year high of $3.58. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.42.

Analyst Upgrades and Downgrades

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

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.