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

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

Dominari Price Performance

Shares of DOMH opened at $1.69 on Tuesday. Dominari has a 1-year low of $1.63 and a 1-year high of $5.71. The stock has a market cap of $40.88 million, a PE ratio of -0.31 and a beta of 0.93. The firm has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $2.90.

Dominari (NASDAQ:DOMH) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.13. The business had revenue of $16.79 million during the quarter, compared to analyst estimates of $16.79 million. Dominari had a negative net margin of 51.61% and a negative return on equity of 235.37%.

Dominari announced that its board has approved a stock buyback program on Thursday, September 17th that permits the company to repurchase $5 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, President Kyle Wool acquired 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, with a total value of $101,000.00. Following the acquisition, the president directly owned 4,261,828 shares in the company, valued at $8,608,892.56. This represents a 1.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Hayes acquired 50,000 shares of the stock in a transaction on Thursday, September 10th. The stock was bought at an average price of $2.02 per share, for a total transaction 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 55.30% of the company’s stock.

Hedge Funds Weigh In On Dominari

Several hedge funds have recently bought and sold shares of the company. PFG Investments LLC lifted its holdings in shares of Dominari by 36.3% in the first quarter. PFG Investments LLC now owns 14,475 shares of the company’s stock valued at $47,000 after purchasing an additional 3,855 shares in the last quarter. Renaissance Technologies LLC increased its position in Dominari by 59.1% during the 1st quarter. Renaissance Technologies LLC now owns 132,362 shares of the company’s stock worth $430,000 after purchasing an additional 49,162 shares in the last quarter. Finally, Connective Capital Management LLC raised its position 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 valued at $764,000 after buying an additional 128,994 shares during the last quarter. 42.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.