Dolphin Entertainment (NASDAQ:DLPN) Trading Up 5% – Here’s What Happened

Dolphin Entertainment, Inc. (NASDAQ:DLPN) shares rose 5% during mid-day trading on Wednesday . The company traded as high as $1.08 and last traded at $1.06. Approximately 37,407 shares changed hands during trading, an increase of 13% from the average daily volume of 33,005 shares. The stock had previously closed at $1.01.

Analyst Ratings Changes

Separately, Maxim Group reduced their price target on Dolphin Entertainment from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 15th.

Dolphin Entertainment Stock Performance

The firm has a fifty day simple moving average of $1.09 and a 200 day simple moving average of $1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $11.83 million, a price-to-earnings ratio of -0.51 and a beta of 1.92.

Institutional Investors Weigh In On Dolphin Entertainment

An institutional investor recently bought a new position in Dolphin Entertainment stock. SOA Wealth Advisors LLC. bought a new stake in Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,108,983 shares of the company’s stock, valued at approximately $699,000. SOA Wealth Advisors LLC. owned about 9.94% of Dolphin Entertainment as of its most recent SEC filing. 8.87% of the stock is 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.