Dolphin Entertainment (NASDAQ:DLPN) Sees Strong Trading Volume

Dolphin Entertainment Inc (NASDAQ:DLPN) saw unusually-high trading volume on Wednesday . Approximately 6,508,455 shares were traded during mid-day trading, an increase of 13,742% from the previous session’s volume of 47,019 shares.The stock last traded at $0.72 and had previously closed at $0.64.

DLPN has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Dolphin Entertainment from a “hold” rating to a “sell” rating in a research note on Monday. Maxim Group reiterated a “buy” rating and issued a $2.50 price target on shares of Dolphin Entertainment in a research note on Friday, November 15th. Finally, ValuEngine raised shares of Dolphin Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

The company has a market capitalization of $9.36 million, a PE ratio of -3.13 and a beta of 7.31. The firm’s 50-day simple moving average is $0.68 and its 200 day simple moving average is $0.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.27.

A hedge fund recently raised its stake in Dolphin Entertainment stock. Vanguard Group Inc. boosted its stake in Dolphin Entertainment Inc (NASDAQ:DLPN) by 258.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 527,778 shares of the company’s stock after acquiring an additional 380,724 shares during the quarter. Vanguard Group Inc. owned about 3.67% of Dolphin Entertainment worth $554,000 at the end of the most recent reporting period. Institutional investors own 6.54% of the company’s stock.

About Dolphin Entertainment (NASDAQ:DLPN)

Dolphin Entertainment, Inc produces and distributes online digital content in the United States. The company operates as a content producer of motion pictures, as well as produces Web series and feature films. In addition, it operates an entertainment public relations agency, which offers talent, marketing, and strategic communications services, as well as brand and digital marketing services.

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