Dolphin Entertainment, Inc. (NASDAQ:DLPN) Short Interest Up 47.1% in January

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 48,400 shares, an increase of 47.1% from the January 15th total of 32,900 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 48,200 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

Separately, Maxim Group decreased their price target on Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 15th.

Dolphin Entertainment Trading Up 1.9 %

Shares of DLPN stock opened at $1.10 on Friday. Dolphin Entertainment has a 12-month low of $0.90 and a 12-month high of $3.04. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88. The stock’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.23. The stock has a market capitalization of $12.28 million, a price-to-earnings ratio of -0.53 and a beta of 1.92.

Institutional Investors Weigh In On Dolphin Entertainment

A hedge fund recently bought a new stake in Dolphin Entertainment stock. SOA Wealth Advisors LLC. bought a new position in Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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. Institutional investors and hedge funds own 8.87% of the company’s stock.

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.