Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Increases By 274.7%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 2,168,633 shares, an increase of 274.7% from the December 15th total of 578,717 shares. Currently, 9.7% of the shares of the company are sold short. Based on an average daily volume of 37,460,158 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 37,460,158 shares, the days-to-cover ratio is presently 0.1 days. Currently, 9.7% of the shares of the company are sold short.

Direct Digital Stock Performance

Shares of NASDAQ DRCT traded down $0.33 during mid-day trading on Tuesday, hitting $1.92. 394,233 shares of the stock were exchanged, compared to its average volume of 369,305. Direct Digital has a twelve month low of $1.86 and a twelve month high of $100.10. The stock’s fifty day simple moving average is $6.56 and its two-hundred day simple moving average is $18.03. The company has a market cap of $57.47 million, a P/E ratio of -1.40 and a beta of 6.00.

Direct Digital (NASDAQ:DRCT) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($13.20) EPS for the quarter, missing analysts’ consensus estimates of ($8.80) by ($4.40). The company had revenue of $7.98 million during the quarter, compared to analyst estimates of $14.50 million. As a group, equities research analysts predict that Direct Digital will post -1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Direct Digital in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $330.00.

Institutional Trading of Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd boosted its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the quarter. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 as of its most recent filing with the Securities and Exchange Commission. 4.02% of the stock is owned by hedge funds and other institutional investors.

Direct Digital Company Profile

Direct Digital Holdings, Inc (NASDAQ: DRCT) is a provider of cloud-based marketing software and services tailored to mortgage lenders and real estate professionals. The company’s integrated platform is designed to help its clients generate, nurture and convert leads through customer relationship management (CRM), automated marketing campaigns, customizable websites and digital content delivery. By combining proprietary tools with expert support, Direct Digital enables users to streamline workflows, improve customer engagement and drive growth in competitive markets.

The company’s flagship offerings include a CRM system that centralizes prospect and client data, marketing automation that triggers timely email and digital campaigns, and website solutions that are optimized for lead capture and search-engine visibility.