Dolphin Entertainment (NASDAQ:DLPN) Trading Down 10% After Analyst Downgrade

Dolphin Entertainment Inc (NASDAQ:DLPN) was down 10% during mid-day trading on Friday after Maxim Group lowered their price target on the stock from $2.50 to $1.50. Maxim Group currently has a buy rating on the stock. Dolphin Entertainment traded as low as $0.56 and last traded at $0.54, approximately 1,753 shares were traded during trading. A decline of 96% from the average daily volume of 49,238 shares. The stock had previously closed at $0.60.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Dolphin Entertainment from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. ValuEngine upgraded shares of Dolphin Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

A hedge fund recently raised its stake in Dolphin Entertainment stock. Vanguard Group Inc. increased its position in Dolphin Entertainment Inc (NASDAQ:DLPN) by 258.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 527,778 shares of the company’s stock after acquiring an additional 380,724 shares during the period. Vanguard Group Inc. owned about 3.67% of Dolphin Entertainment worth $554,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.54% of the company’s stock.

The company has a market cap of $9.30 million, a P/E ratio of -2.33 and a beta of 7.31. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $0.67 and a 200 day moving average of $0.92.

About Dolphin Entertainment (NASDAQ:DLPN)

Dolphin Entertainment, Inc produces and distributes online digital content in the United States. The company operates as a content producer of motion pictures, as well as produces Web series and feature films. In addition, it operates an entertainment public relations agency, which offers talent, marketing, and strategic communications services, as well as brand and digital marketing services.

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