Dominari (NASDAQ:DOMH) Posts Quarterly Earnings Results, Beats Expectations By $0.63 EPS

Dominari (NASDAQ:DOMH) announced its earnings results on Monday. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.63, FiscalAI reports. Dominari had a negative net margin of 51.61% and a negative return on equity of 235.37%. The company had revenue of $16.38 million during the quarter, compared to the consensus estimate of $18.58 million.

Dominari Stock Performance

Shares of NASDAQ:DOMH traded down $0.22 during trading on Tuesday, reaching $0.93. The stock had a trading volume of 205,918 shares, compared to its average volume of 163,400. Dominari has a 52 week low of $0.90 and a 52 week high of $5.71. The firm’s fifty day moving average is $2.04 and its 200 day moving average is $2.83. The stock has a market cap of $22.47 million, a price-to-earnings ratio of -0.17 and a beta of 0.93.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Anthony Hayes purchased 50,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was acquired at an average price of $2.02 per share, for a total transaction of $101,000.00. Following the purchase, the chief executive officer owned 4,550,873 shares of the company’s stock, valued at approximately $9,192,763.46. This trade represents a 1.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Kyle Wool bought 50,000 shares of the stock in a transaction on Thursday, September 10th. The stock was purchased at an average price of $2.02 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the president owned 4,261,828 shares of the company’s stock, valued at approximately $8,608,892.56. This trade represents a 1.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 55.30% of the stock is owned by corporate insiders.

Dominari announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 17th that authorizes the company to repurchase $5 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.6% of its shares through open market purchases. Share repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.