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 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. Based on an average daily volume of 141,621 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.5% of the company’s stock are sold short.

Dominari Price Performance

NASDAQ:DOMH traded down $0.11 during trading hours on Friday, reaching $1.64. The company’s stock had a trading volume of 90,773 shares, compared to its average volume of 122,968. The company has a market cap of $39.75 million, a price-to-earnings ratio of -0.30 and a beta of 0.90. Dominari has a one year low of $1.63 and a one year high of $5.71. The business’s 50-day moving average is $2.16 and its 200-day moving average is $2.91.

Dominari (NASDAQ:DOMH) last posted 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. Dominari had a negative return on equity of 235.37% and a negative net margin of 51.61%. The company had revenue of $16.79 million for the quarter, compared to analyst estimates of $16.79 million.

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

Insider Activity

In other news, CEO Anthony Hayes purchased 50,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was bought at an average cost of $2.02 per share, with a total value of $101,000.00. Following the purchase, the chief executive officer directly owned 4,550,873 shares of the company’s stock, valued at approximately $9,192,763.46. This trade represents a 1.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Kyle Wool purchased 50,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $2.02 per share, with a total value of $101,000.00. Following the completion of the purchase, the president directly owned 4,261,828 shares in the company, valued at approximately $8,608,892.56. This represents a 1.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 55.30% of the company’s stock.

Institutional Investors Weigh In On Dominari

Large investors have recently added to or reduced their stakes in the stock. PFG Investments LLC raised its position 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 during the period. Renaissance Technologies LLC boosted 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 worth $430,000 after buying an additional 49,162 shares during the period. Finally, Connective Capital Management LLC boosted its holdings in shares of Dominari by 112.9% during the 2nd quarter. Connective Capital Management LLC now owns 243,223 shares of the company’s stock worth $764,000 after buying an additional 128,994 shares during the period. Institutional investors own 42.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DOMH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dominari in a research report on Friday, October 2nd. Wall Street Zen cut shares of Dominari from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Dominari has a consensus rating of “Sell”.

Dominari Company Profile

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.