Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Drops By 56.6%

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

Hedge Funds Weigh In On Dolphin Entertainment

An institutional investor recently raised its position in Dolphin Entertainment stock. Renaissance Technologies LLC raised its stake in Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,400 shares of the company’s stock after purchasing an additional 9,500 shares during the period. Renaissance Technologies LLC owned 0.39% of Dolphin Entertainment worth $74,000 at the end of the most recent quarter. 8.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Dolphin Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One investment 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

NASDAQ:DLPN traded down $0.03 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. Dolphin Entertainment has a one year low of $0.99 and a one year high of $1.88. The firm has a market capitalization of $15.57 million, a P/E ratio of -4.12 and a beta of 1.90. The stock has a fifty day moving average of $1.11 and a two-hundred day moving average of $1.36. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 2.37.

Dolphin Entertainment (NASDAQ:DLPN) last issued its earnings results on Wednesday, August 12th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The company had revenue of $14.44 million during the quarter, compared to the consensus estimate of $14.50 million. Dolphin Entertainment had a negative return on equity of 21.68% and a negative net margin of 6.31%.

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.