Dolphin Entertainment Inc (NASDAQ:DLPN) Short Interest Up 457.5% in October

Dolphin Entertainment Inc (NASDAQ:DLPN) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 40,700 shares, an increase of 457.5% from the September 30th total of 7,300 shares. Based on an average daily trading volume, of 15,800 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.4% of the shares of the company are short sold.

An institutional investor recently raised its position in Dolphin Entertainment stock. Vanguard Group Inc. boosted its stake in Dolphin Entertainment Inc (NASDAQ:DLPN) by 258.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 527,778 shares of the company’s stock after buying an additional 380,724 shares during the period. Vanguard Group Inc. owned approximately 3.67% of Dolphin Entertainment worth $554,000 at the end of the most recent quarter. 7.08% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Dolphin Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. ValuEngine upgraded Dolphin Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $2.63.

Shares of NASDAQ DLPN opened at $0.73 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.87. Dolphin Entertainment has a twelve month low of $0.68 and a twelve month high of $1.90. The stock has a 50 day moving average of $0.77 and a two-hundred day moving average of $1.02.

Dolphin Entertainment (NASDAQ:DLPN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.06) earnings per share for the quarter. Dolphin Entertainment had a negative net margin of 19.48% and a negative return on equity of 43.02%. The firm had revenue of $6.27 million during the quarter. On average, equities research analysts forecast that Dolphin Entertainment will post -0.16 earnings per share for the current fiscal year.

Dolphin Entertainment Company Profile

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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