Dolphin Entertainment, Inc. (NASDAQ:DLPN) Short Interest Update

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 50,800 shares, a drop of 6.8% from the November 15th total of 54,500 shares. Based on an average daily trading volume, of 39,500 shares, the short-interest ratio is presently 1.3 days. Currently, 0.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Dolphin Entertainment

A hedge fund recently bought a new stake in Dolphin Entertainment stock. SOA Wealth Advisors LLC. purchased a new position in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. 8.87% of the stock is owned by institutional investors and hedge funds.

Dolphin Entertainment Trading Down 0.9 %

DLPN traded down $0.01 during midday trading on Tuesday, reaching $1.07. 114,879 shares of the company were exchanged, compared to its average volume of 36,689. 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 one year low of $0.95 and a one year high of $3.58. The stock has a market capitalization of $11.94 million, a P/E ratio of -0.52 and a beta of 1.96. The stock’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.48.

Wall Street Analyst Weigh In

Separately, Maxim Group reduced their target price on Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating on the stock 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.