Dominari (NASDAQ:DOMH) Posts Earnings Results, Beats Expectations By $0.63 EPS

Dominari (NASDAQ:DOMH) released its quarterly earnings results on Monday. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.63, FiscalAI reports. Dominari had a negative return on equity of 235.37% and a negative net margin of 51.61%. The business had revenue of $16.38 million for the quarter, compared to the consensus estimate of $18.58 million.

Dominari Trading Down 19.4%

NASDAQ:DOMH traded down $0.22 during midday trading on Tuesday, hitting $0.93. 205,918 shares of the company were exchanged, compared to its average volume of 163,400. The company has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.83. Dominari has a fifty-two week low of $0.90 and a fifty-two week high of $5.71. The company has a market capitalization of $22.47 million, a PE ratio of -0.17 and a beta of 0.93.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen lowered Dominari from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Dominari in a report on Friday, October 2nd. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Dominari has a consensus rating of “Sell”.

Dominari declared that its Board of Directors has approved a share repurchase plan on Thursday, September 17th that permits the company to repurchase $5 million in shares. This buyback authorization permits the company to purchase up to 9.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Dominari news, President Kyle Wool acquired 50,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was acquired at an average price of $2.02 per share, with a total value of $101,000.00. Following the completion of the transaction, the president directly owned 4,261,828 shares in the company, valued at approximately $8,608,892.56. This trade represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony Hayes acquired 50,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was acquired at an average cost of $2.02 per share, with a total value of $101,000.00. Following the transaction, the chief executive officer directly owned 4,550,873 shares of the company’s stock, valued at approximately $9,192,763.46. This represents a 1.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 55.30% of the stock is owned by corporate insiders.

Dominari Company Profile

Dominari Holdings Inc (NASDAQ:DOMH) is a diversified holding company focused on building and managing a portfolio of operating businesses and strategic investments. The company seeks opportunities across areas such as technology, media, telecommunications, financial services and other industries.

Through its subsidiaries, Dominari provides financial and capital-markets services, including investment banking, securities brokerage, wealth management and related advisory activities. Its businesses serve corporate clients, institutional investors and individual customers, subject to applicable regulatory requirements.

The company was formerly known as AIkido Pharma Inc and adopted the Dominari Holdings name as it broadened its focus beyond its earlier life-sciences activities.