Dolphin Entertainment, Inc. (NASDAQ:DLPN) Sees Large Drop in Short Interest

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 13,648 shares, a drop of 56.6% from the July 15th total of 31,477 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 9,251 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Dolphin Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Dolphin Entertainment Stock Performance

Shares of DLPN traded down $0.03 during mid-day trading on Friday, hitting $1.20. The company’s stock had a trading volume of 5,439 shares, compared to its average volume of 15,104. The stock’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.36. The firm has a market capitalization of $15.57 million, a PE ratio of -4.12 and a beta of 1.90. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.73 and a current ratio of 0.77. Dolphin Entertainment has a one year low of $0.99 and a one year high of $1.88.

Dolphin Entertainment (NASDAQ:DLPN) last announced its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The business had revenue of $14.44 million for the quarter, compared to analyst estimates of $14.50 million. Dolphin Entertainment had a negative net margin of 6.31% and a negative return on equity of 21.68%. As a group, sell-side analysts anticipate that Dolphin Entertainment will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Dolphin Entertainment

An institutional investor recently raised its position in Dolphin Entertainment stock. Renaissance Technologies LLC increased its position in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,400 shares of the company’s stock after buying an additional 9,500 shares during the quarter. Renaissance Technologies LLC owned 0.39% of Dolphin Entertainment worth $74,000 at the end of the most recent quarter. Institutional investors own 8.87% of the company’s stock.

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.