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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 133,240 shares, an increase of 1,501.8% from the August 31st total of 8,318 shares. Based on an average daily trading volume, of 834,309 shares, the short-interest ratio is currently 0.2 days. Currently, 22.3% of the shares of the company are sold short.

Direct Digital Stock Performance

Shares of Direct Digital stock opened at $1.58 on Friday. The firm has a 50-day moving average of $2.29 and a 200-day moving average of $2.85. The stock has a market cap of $1.26 million, a PE ratio of -0.01 and a beta of 5.30. Direct Digital has a 52-week low of $1.55 and a 52-week high of $113.81.

Direct Digital (NASDAQ:DRCT) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($5.78) EPS for the quarter, beating the consensus estimate of ($9.60) by $3.82. The business had revenue of $7.83 million during the quarter, compared to analyst estimates of $8.84 million. Equities research analysts predict that Direct Digital will post -18.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Direct Digital Company Profile

Direct Digital Holdings, Inc is a digital advertising and marketing technology company that provides programmatic advertising solutions to advertisers, agencies and digital publishers. The company helps businesses reach targeted audiences across multiple digital channels, including display, video, mobile, connected television and audio.

Direct Digital operates through two primary business areas. Its buy-side platform, Colossus Media, helps advertisers and agencies plan, purchase and optimize digital media campaigns, with an emphasis on reaching multicultural and diverse audiences.