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

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

Dominari Stock Up 8.7%

NASDAQ:DOMH traded up $0.07 during mid-day trading on Wednesday, hitting $0.87. 259,181 shares of the company traded hands, compared to its average volume of 165,948. Dominari has a one year low of $0.70 and a one year high of $5.71. The firm has a market cap of $21.92 million, a price-to-earnings ratio of -0.16 and a beta of 0.93. The stock’s fifty day moving average price is $2.01 and its 200-day moving average price is $2.81.

Dominari announced that its board has initiated a stock buyback plan on Thursday, September 17th that authorizes the company to repurchase $5 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.6% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DOMH shares. Wall Street Zen downgraded Dominari from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dominari in a research note on Friday, October 2nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Dominari has a consensus rating of “Sell”.

Insiders Place Their Bets

In related news, President Kyle Wool bought 50,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were purchased at an average price of $2.02 per share, with a total value of $101,000.00. Following the completion of the acquisition, the president owned 4,261,828 shares of the company’s stock, valued at $8,608,892.56. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Hayes bought 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer owned 4,550,873 shares of the company’s stock, valued at $9,192,763.46. This represents a 1.11% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 55.30% of the company’s stock.

About Dominari

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.