Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Expands By 18.5%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 54,500 shares, an increase of 18.5% from the October 31st total of 46,000 shares. Based on an average daily volume of 35,800 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reduced their target price on shares of Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

Institutional Trading of Dolphin Entertainment

A hedge fund recently bought a new stake in Dolphin Entertainment stock. SOA Wealth Advisors LLC. acquired a new position in Dolphin Entertainment, Inc. (NASDAQ:DLPN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,108,983 shares of the company’s stock, valued at approximately $699,000. SOA Wealth Advisors LLC. owned about 9.94% of Dolphin Entertainment at the end of the most recent quarter. 8.87% of the stock is currently owned by institutional investors.

Dolphin Entertainment Price Performance

Shares of Dolphin Entertainment stock opened at $1.35 on Tuesday. The firm has a fifty day simple moving average of $1.23 and a 200-day simple moving average of $1.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 0.76. Dolphin Entertainment has a 1-year low of $0.95 and a 1-year high of $3.70.

About Dolphin Entertainment

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.