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

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Dolphin Entertainment stock. SOA Wealth Advisors LLC. acquired a new stake in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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. Hedge funds and other institutional investors own 8.87% of the company’s stock.

Dolphin Entertainment Price Performance

DLPN remained flat at $1.14 during midday trading on Friday. 47,296 shares of the company’s stock were exchanged, compared to its average volume of 37,411. Dolphin Entertainment has a one year low of $0.90 and a one year high of $3.58. The firm has a market cap of $12.72 million, a PE ratio of -0.55 and a beta of 1.96. 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 company’s fifty day moving average price is $1.16 and its 200-day moving average price is $1.42.

Analyst Upgrades and Downgrades

Separately, Maxim Group dropped their price target on Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating for the company in a research 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.