Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Update

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 19,015 shares, a decline of 58.0% from the June 15th total of 45,319 shares. Based on an average daily trading volume, of 19,518 shares, the short-interest ratio is currently 1.0 days. Currently, 3.4% of the shares of the company are short sold.

Direct Digital Stock Up 1.2%

DRCT stock traded up $0.03 during mid-day trading on Tuesday, hitting $2.61. 4,425 shares of the company were exchanged, compared to its average volume of 415,830. The firm has a market capitalization of $1.93 million, a P/E ratio of -0.01 and a beta of 5.32. The business has a fifty day simple moving average of $3.21 and a 200-day simple moving average of $5.10. Direct Digital has a 12-month low of $2.17 and a 12-month high of $172.70.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Monday, May 11th. The company reported ($7.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.74) by $0.49. The firm had revenue of $6.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Research analysts predict that Direct Digital will post -12.75 EPS for the current year.

Hedge Funds Weigh In On Direct Digital

An institutional investor 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 & Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after acquiring an additional 38,534 shares during the period. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 as of its most recent SEC filing. Institutional investors own 4.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DRCT shares. Wall Street Zen upgraded Direct Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Direct Digital in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Direct Digital presently has a consensus rating of “Reduce”.

About Direct Digital

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.