Dominari Holdings Inc. (NASDAQ:DOMH) Shares Shorted: Short Interest Down 42.0% in October

Dominari Holdings Inc. (NASDAQ:DOMH) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 379,402 shares, a decline of 42.0% from the September 30th total of 654,416 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 141,621 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DOMH shares. Wall Street Zen lowered Dominari from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dominari in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Dominari Price Performance

Dominari stock traded down $0.11 during mid-day trading on Friday, hitting $1.64. The company’s stock had a trading volume of 90,773 shares, compared to its average volume of 122,968. Dominari has a 52-week low of $1.63 and a 52-week high of $5.71. The company has a market cap of $39.75 million, a PE ratio of -0.30 and a beta of 0.90. The firm’s 50 day moving average is $2.16 and its 200 day moving average is $2.91.

Dominari (NASDAQ:DOMH) last released its earnings results on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.13. The company had revenue of $16.79 million for the quarter, compared to analysts’ expectations of $16.79 million. Dominari had a negative return on equity of 235.37% and a negative net margin of 51.61%.

Dominari declared that its Board of Directors has approved a share buyback plan on Thursday, September 17th that authorizes the company to buy back $5 million in shares. This buyback authorization authorizes the company to repurchase up to 9.6% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DOMH. PFG Investments LLC boosted its stake in shares of Dominari by 36.3% during the 1st quarter. PFG Investments LLC now owns 14,475 shares of the company’s stock valued at $47,000 after buying an additional 3,855 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Dominari by 59.1% during the 1st quarter. Renaissance Technologies LLC now owns 132,362 shares of the company’s stock valued at $430,000 after acquiring an additional 49,162 shares in the last quarter. Finally, Connective Capital Management LLC increased its stake in shares of Dominari by 112.9% in the second quarter. Connective Capital Management LLC now owns 243,223 shares of the company’s stock worth $764,000 after acquiring an additional 128,994 shares during the last quarter. Institutional investors and hedge funds own 42.48% 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.

The company was formerly known as AIkido Pharma Inc and adopted the Dominari Holdings name as it broadened its focus beyond its earlier life-sciences activities.