Dominari Holdings Inc. (NASDAQ:DOMH) Sees Large Decrease in Short Interest

Dominari Holdings Inc. (NASDAQ:DOMH) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 379,402 shares, a decrease of 42.0% from the September 30th total of 654,416 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average trading volume of 141,621 shares, the days-to-cover ratio is currently 2.7 days.

Insiders Place Their Bets

In related news, CEO Anthony Hayes acquired 50,000 shares of Dominari stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of $2.02 per share, with a total value of $101,000.00. Following the transaction, the chief executive officer owned 4,550,873 shares in the company, valued at $9,192,763.46. This trade represents a 1.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Kyle Wool acquired 50,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was bought at an average price of $2.02 per share, with a total value of $101,000.00. Following the completion of the acquisition, the president directly owned 4,261,828 shares in the company, valued at approximately $8,608,892.56. This represents a 1.19% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 55.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. PFG Investments LLC lifted its stake in shares of Dominari by 36.3% in the first quarter. PFG Investments LLC now owns 14,475 shares of the company’s stock worth $47,000 after buying an additional 3,855 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Dominari by 59.1% during the first quarter. Renaissance Technologies LLC now owns 132,362 shares of the company’s stock valued at $430,000 after acquiring an additional 49,162 shares in the last quarter. Finally, Connective Capital Management LLC increased its position in shares of Dominari by 112.9% during the second quarter. Connective Capital Management LLC now owns 243,223 shares of the company’s stock valued at $764,000 after acquiring an additional 128,994 shares in the last quarter. 42.48% of the stock is owned by hedge funds and other institutional investors.

Dominari Trading Up 1.8%

NASDAQ:DOMH traded up $0.03 during trading hours on Monday, reaching $1.67. 61,386 shares of the company traded hands, compared to its average volume of 163,086. The business’s 50-day moving average price is $2.16 and its two-hundred day moving average price is $2.91. Dominari has a 1 year low of $1.63 and a 1 year high of $5.71. The stock has a market capitalization of $40.48 million, a P/E ratio of -0.31 and a beta of 0.93.

Dominari (NASDAQ:DOMH) last released its earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.13. The firm had revenue of $16.79 million for the quarter, compared to analysts’ expectations of $16.79 million. Dominari had a negative return on equity of 235.37% and a negative net margin of 51.61%.

Dominari announced that its Board of Directors has approved a stock buyback plan on Thursday, September 17th that permits the company to buy back $5 million in shares. This buyback authorization permits the company to purchase up to 9.6% of its stock through open market purchases. Share buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

DOMH has been the subject of a number of research reports. Wall Street Zen downgraded shares of Dominari from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Dominari in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Dominari has an average rating of “Sell”.

About Dominari

Dominari Holdings Inc (NASDAQ:DOMH) is a diversified holding company focused on building and managing a portfolio of operating businesses and strategic investments. The company seeks opportunities across areas such as technology, media, telecommunications, financial services and other industries.

Through its subsidiaries, Dominari provides financial and capital-markets services, including investment banking, securities brokerage, wealth management and related advisory activities. Its businesses serve corporate clients, institutional investors and individual customers, subject to applicable regulatory requirements.

The company was formerly known as AIkido Pharma Inc and adopted the Dominari Holdings name as it broadened its focus beyond its earlier life-sciences activities.