Dolphin Entertainment (NASDAQ:DLPN) Stock Price Up 5% – Here’s Why

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

Wall Street Analysts Forecast Growth

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

Dolphin Entertainment Stock Performance

The company has a fifty day moving average of $1.08 and a two-hundred day moving average of $1.26. The stock has a market capitalization of $11.38 million, a P/E ratio of -0.49 and a beta of 1.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.76 and a quick ratio of 0.76.

Institutional Trading of Dolphin Entertainment

An institutional investor recently bought a new position in Dolphin Entertainment stock. Bard Associates Inc. bought a new position in Dolphin Entertainment, Inc. (NASDAQ:DLPN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 118,159 shares of the company’s stock, valued at approximately $126,000. Bard Associates Inc. owned 1.06% of Dolphin Entertainment at the end of the most recent reporting period. Institutional investors own 8.87% of the company’s stock.

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.