Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Large Decrease in Short Interest

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 18,481 shares, a decline of 91.4% from the April 30th total of 215,086 shares. Based on an average daily volume of 164,314 shares, the days-to-cover ratio is presently 0.1 days. Approximately 3.3% of the shares of the stock are sold short.

Direct Digital Stock Down 7.2%

NASDAQ DRCT traded down $0.22 during trading hours on Friday, hitting $2.83. 41,778 shares of the company were exchanged, compared to its average volume of 99,034. The stock has a 50-day moving average price of $3.28 and a 200 day moving average price of $10.62. Direct Digital has a 52 week low of $2.17 and a 52 week high of $172.70. The stock has a market cap of $2.09 million, a PE ratio of -0.01 and a beta of 5.44.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($7.25) earnings per share for the quarter, topping the consensus estimate of ($7.74) by $0.49. The company had revenue of $6.68 million for the quarter, compared to the consensus estimate of $6.82 million. As a group, sell-side analysts anticipate that Direct Digital will post -12.75 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Direct Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Direct Digital has an average rating of “Reduce”.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd boosted its stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,787 shares of the company’s stock after acquiring 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 SEC filing. Institutional investors own 4.02% of the company’s stock.

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.