Dolphin Entertainment, Inc. (NASDAQ:DLPN) Sees Large Growth in Short Interest

Dolphin Entertainment, Inc. (NASDAQ:DLPN) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 46,144 shares, an increase of 137.1% from the April 30th total of 19,459 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 34,754 shares, the short-interest ratio is currently 1.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Dolphin Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Dolphin Entertainment Stock Up 1.6%

Shares of DLPN stock traded up $0.02 during midday trading on Monday, reaching $1.25. 25,372 shares of the stock were exchanged, compared to its average volume of 34,183. Dolphin Entertainment has a 1 year low of $0.99 and a 1 year high of $1.88. The company’s 50 day moving average is $1.43 and its two-hundred day moving average is $1.54. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.99. The firm has a market cap of $16.28 million, a PE ratio of -4.31 and a beta of 1.90.

Dolphin Entertainment (NASDAQ:DLPN) last posted its 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). Dolphin Entertainment had a negative return on equity of 41.42% and a negative net margin of 6.02%.The firm had revenue of $12.80 million for the quarter, compared to analysts’ expectations of $13.60 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Dolphin Entertainment stock. Renaissance Technologies LLC grew its position in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 58.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 75,000 shares of the company’s stock after acquiring an additional 27,600 shares during the period. Renaissance Technologies LLC owned about 0.58% of Dolphin Entertainment worth $110,000 at the end of the most recent quarter. 8.87% of the stock is currently owned by institutional investors and hedge funds.

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.