Shares of the Dolphin Entertainment, Inc. (DLPN) stock were declining today on May 27, 2021, after rising as much as 12.53% with a $9.07 per share price at the previous closing. DLPN stock price saw a down of 5.79% to drop at $8.54 a share at the time of this writing. There is no news other than Dolphin Entertainment’s participation in the upcoming investor conferences. Let’s discuss more about DLPN stock.
What’s happening?
There is no major culprit that justifies the bearish sentiment. No recent analysts’ downgrades or shrank targeted per share price of DLPN stock have been in the news. However, DLPN stock announced today that its CEO will participate in two upcoming conferences. The first is the Summer Solstice Best Ideas conference which would be presented by MicroCap Rodeo on June 1 at 1:00 pm ET and the second conference is 2021 LD Micro Invitational XI on June 10 at 11:30 am ET.
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Financial View of DLPN stock:
- About a week ago, DLPN stock did announce its first-quarter 2021 financial results according to which DLPN stock generated $7.2 million revenue, higher than the $6.6 million revenue of the same tenure of the prior year.
- The operating loss suffered by Dolphin stock in the reported quarter was $1.2 million as compared to the operating loss of $870,859 in the same quarter of last year.
- The net loss suffered by Dolphin stock reached $5.3 million for the first quarter of 2021 as compared to $2.1 million net income in the same period of the prior year.
- As of March 31, 2021, Dolphin stock had cash and cash equivalents of $7.1 million while these were $7.9 million by the end of December 2020.
A look at Business Developments:
As far as business is concerned, Dolphin stock made many developments in the first quarter among which the popular are the acquisition of Bender/Helper Impact, which is the media company founded in 1986, launching of its Non-Fungible Tokens Division. Furthermore, DLPN subsidiary, Shorefire clients have won the presentation at 2021 Grammys and its other subsidiary 42West was involved in 13 films that have won 6 Oscars and 32 Academy awards.
Conclusion:
Dolphin stock price is gloomy as far as market sentiment is concerned. Recently announced financial results show that DLPN stock has shown growth over time. A deep fundamental, as well as technical analysis, is better before adding this stock to the portfolio.