Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Decreases By 34.8%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 29,624 shares, a decline of 34.8% from the May 31st total of 45,403 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 24,713 shares, the short-interest ratio is currently 1.2 days.

Institutional Investors Weigh In On Dolphin Entertainment

An institutional investor recently raised its position in Dolphin Entertainment stock. Renaissance Technologies LLC boosted its position in Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 58.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,000 shares of the company’s stock after purchasing an additional 27,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.58% of Dolphin Entertainment worth $110,000 at the end of the most recent reporting period. 8.87% of the stock is owned by hedge funds and other institutional investors.

Dolphin Entertainment Stock Performance

Shares of DLPN stock opened at $1.13 on Thursday. The firm has a market cap of $14.71 million, a price-to-earnings ratio of -3.90 and a beta of 1.88. Dolphin Entertainment has a 52-week low of $0.99 and a 52-week high of $1.88. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.99. The company’s 50 day moving average is $1.25 and its 200 day moving average is $1.46.

Dolphin Entertainment (NASDAQ:DLPN) last posted its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). Dolphin Entertainment had a negative return on equity of 41.42% and a negative net margin of 6.02%.The company had revenue of $12.80 million for the quarter, compared to analysts’ expectations of $13.60 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Dolphin Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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.