Dolphin Entertainment, Inc. (NASDAQ:DLPN) Short Interest Down 37.3% in December

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

Institutional Trading of Dolphin Entertainment

An institutional investor recently bought a new position in Dolphin Entertainment stock. SOA Wealth Advisors LLC. purchased a new stake in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 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 quarter. 8.87% of the stock is currently owned by hedge funds and other institutional investors.

Dolphin Entertainment Price Performance

NASDAQ:DLPN traded up $0.04 during trading hours on Friday, hitting $1.05. 8,226 shares of the company’s stock traded hands, compared to its average volume of 34,875. Dolphin Entertainment has a 52 week low of $0.90 and a 52 week high of $3.32. The business’s fifty day simple moving average is $1.12 and its two-hundred day simple moving average is $1.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.88. The firm has a market cap of $11.67 million, a P/E ratio of -0.50 and a beta of 1.93.

Analyst Upgrades and Downgrades

Separately, Maxim Group decreased 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.

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.