Dolphin Entertainment, Inc. (NASDAQ:DLPN) Short Interest Down 6.8% in November

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

Analysts Set New Price Targets

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.

Dolphin Entertainment Stock Performance

Shares of DLPN opened at $1.14 on Wednesday. The stock has a 50 day moving average price of $1.21 and a 200 day moving average price of $1.47. 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 has a market capitalization of $12.72 million, a price-to-earnings ratio of -0.55 and a beta of 1.96. Dolphin Entertainment has a 52-week low of $0.95 and a 52-week high of $3.58.

Institutional Investors 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) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. 8.87% of the stock is owned by institutional investors.

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.