Dolphin Entertainment (NASDAQ:DLPN) Stock Falls 4.3% – Here’s Why

Dolphin Entertainment, Inc. (NASDAQ:DLPN) shares were down 4.3% during mid-day trading on Monday. The stock traded as low as $0.9502 and last traded at $0.9903. 18,548 shares were traded during trading, an increase of 143% from the average daily volume of 7,632 shares. The stock had previously closed at $1.0350.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings raised Dolphin Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 25th. Zacks Research raised Dolphin Entertainment to a “hold” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Dolphin Entertainment Price Performance

The business’s 50-day simple moving average is $1.10 and its 200-day simple moving average is $1.19. The stock has a market cap of $12.90 million, a PE ratio of -3.41 and a beta of 1.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.37.

Dolphin Entertainment (NASDAQ:DLPN) last posted its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. Dolphin Entertainment had a negative return on equity of 21.68% and a negative net margin of 6.31%. The company had revenue of $14.44 million for the quarter, compared to analysts’ expectations of $14.50 million. On average, research analysts expect that Dolphin Entertainment, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Dolphin Entertainment

A hedge fund recently raised its stake in Dolphin Entertainment stock. Renaissance Technologies LLC grew its holdings in shares of Dolphin Entertainment, Inc. (NASDAQ:DLPN) by 58.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,000 shares of the company’s stock after buying an additional 27,600 shares during the period. Renaissance Technologies LLC owned 0.58% of Dolphin Entertainment worth $110,000 as of its most recent SEC filing. 8.87% of the stock is currently owned by hedge funds and other institutional investors.

Dolphin Entertainment Company Profile

Dolphin Entertainment, Inc is an entertainment marketing and content development company that provides public relations, strategic marketing, and communications services to clients in the entertainment, lifestyle, music, sports, and consumer-product sectors. The company works with film and television studios, streaming platforms, brands, talent, and other organizations seeking to build awareness and manage their public image.

Dolphin operates through specialized agencies, including 42West, The Door, and Shore Fire Media.