Short Interest in Dolphin Entertainment, Inc. (NASDAQ:DLPN) Declines By 34.8%

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 29,624 shares, a drop of 34.8% from the May 31st total of 45,403 shares. Based on an average trading volume of 24,713 shares, the short-interest ratio is currently 1.2 days. Approximately 0.3% of the shares of the company are sold short.

Dolphin Entertainment Stock Performance

NASDAQ DLPN traded up $0.01 on Friday, reaching $1.14. 24,153 shares of the stock were exchanged, compared to its average volume of 25,163. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.99. 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 $14.77 million, a PE ratio of -3.91 and a beta of 1.88. The company’s 50-day simple moving average is $1.24 and its two-hundred day simple moving average is $1.45.

Dolphin Entertainment (NASDAQ:DLPN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). The firm had revenue of $12.80 million during the quarter, compared to the consensus estimate of $13.60 million. Dolphin Entertainment had a negative return on equity of 41.42% and a negative net margin of 6.02%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Dolphin Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Dolphin Entertainment currently has an average rating of “Sell”.

Institutional Investors Weigh In On Dolphin Entertainment

A hedge fund recently raised its position in Dolphin Entertainment stock. Renaissance Technologies LLC increased its holdings in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 25.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,400 shares of the company’s stock after purchasing an additional 9,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.39% of Dolphin Entertainment worth $74,000 at the end of the most recent reporting period. 8.87% of the stock is owned by institutional investors.

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.