Dolphin Entertainment (DLPN) Price Target Cut to $2.50 by Analysts at Canaccord Genuity

Dolphin Entertainment (NASDAQ:DLPN) had its price objective decreased by Canaccord Genuity from $3.00 to $2.50 in a report released on Tuesday morning, BenzingaRatingsTable reports. Canaccord Genuity currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Maxim Group reissued a buy rating and set a $4.50 price objective on shares of Dolphin Entertainment in a research report on Tuesday. Zacks Investment Research downgraded shares of Dolphin Entertainment from a hold rating to a sell rating in a research report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $3.00.

Shares of NASDAQ:DLPN opened at $1.45 on Tuesday. Dolphin Entertainment has a 12 month low of $0.71 and a 12 month high of $4.07. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.09. The firm has a market cap of $22.17 million, a P/E ratio of -7.25 and a beta of 8.33.

A hedge fund recently bought a new stake in Dolphin Entertainment stock. Vanguard Group Inc bought a new stake in Dolphin Entertainment Inc (NASDAQ:DLPN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 137,382 shares of the company’s stock, valued at approximately $304,000. Vanguard Group Inc owned approximately 0.97% of Dolphin Entertainment as of its most recent SEC filing. Institutional investors own 6.41% of the company’s stock.

About Dolphin Entertainment

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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