Dolphin Entertainment (NASDAQ:DLPN) Stock Price Down 4.3% – Here’s Why

Dolphin Entertainment, Inc. (NASDAQ:DLPN)’s stock price was down 4.3% on Monday. The stock traded as low as $0.9502 and last traded at $0.9903. 18,548 shares were traded during mid-day trading, an increase of 143% from the average daily volume of 7,632 shares. The stock had previously closed at $1.0350.

Analysts Set New Price Targets

DLPN has been the subject of several research reports. Zacks Research upgraded shares of Dolphin Entertainment to a “hold” rating in a report on Friday, August 14th. Weiss Ratings raised shares of Dolphin Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Dolphin Entertainment Price Performance

The business has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $1.19. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.37. The stock has a market cap of $12.90 million, a PE ratio of -3.41 and a beta of 1.83.

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 the consensus estimate of ($0.07) by $0.09. The firm had revenue of $14.44 million during the quarter, compared to analyst estimates of $14.50 million. Dolphin Entertainment had a negative return on equity of 21.68% and a negative net margin of 6.31%. Research analysts forecast that Dolphin Entertainment, Inc. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Dolphin Entertainment

A hedge fund recently raised its stake in Dolphin Entertainment stock. Renaissance Technologies LLC raised its position in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 58.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the company’s stock after buying an additional 27,600 shares during the quarter. Renaissance Technologies LLC owned about 0.58% of Dolphin Entertainment worth $110,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.87% of the company’s stock.

Dolphin Entertainment Company Profile

Dolphin Entertainment, Inc is an entertainment marketing and content development company that provides public relations, strategic marketing, and communications services to clients in the entertainment, lifestyle, music, sports, and consumer-product sectors. The company works with film and television studios, streaming platforms, brands, talent, and other organizations seeking to build awareness and manage their public image.

Dolphin operates through specialized agencies, including 42West, The Door, and Shore Fire Media.