Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Significant Growth in Short Interest

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 45,319 shares, a growth of 337.7% from the May 31st total of 10,353 shares. Based on an average trading volume of 120,129 shares, the days-to-cover ratio is presently 0.4 days. Currently, 8.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently raised its stake in Direct Digital stock. XTX Topco Ltd raised its holdings in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after buying 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 & Exchange Commission. Institutional investors own 4.02% of the company’s stock.

Direct Digital Stock Up 2.3%

NASDAQ:DRCT traded up $0.06 during mid-day trading on Friday, hitting $2.65. 12,725 shares of the stock traded hands, compared to its average volume of 84,928. The business’s 50-day moving average price is $3.23 and its 200 day moving average price is $6.21. The company has a market cap of $1.97 million, a PE ratio of -0.01 and a beta of 5.33. Direct Digital has a 12-month low of $2.17 and a 12-month high of $172.70.

Direct Digital (NASDAQ:DRCT) last posted its earnings results on Monday, May 11th. The company reported ($7.25) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Analysts anticipate that Direct Digital will post -12.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Direct Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. 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, Direct Digital currently has an average rating of “Reduce”.

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.