Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 57.8% in March

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 26,262 shares, a decline of 57.8% from the February 26th total of 62,292 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average trading volume of 124,662 shares, the short-interest ratio is currently 0.2 days.

Direct Digital Price Performance

DRCT opened at $0.79 on Thursday. The stock has a market capitalization of $434,500.00, a PE ratio of -0.01 and a beta of 6.09. The firm’s fifty day moving average price is $1.52 and its 200 day moving average price is $8.50. Direct Digital has a 12-month low of $0.78 and a 12-month high of $80.30.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Direct Digital in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Direct Digital to a “sell” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $330.00.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd grew its stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the quarter. XTX Topco Ltd owned approximately 0.28% of Direct Digital worth $30,000 as of its most recent filing with the SEC. 4.02% of the stock is currently owned by 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.