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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 10,104 shares, a decrease of 46.9% from the June 30th total of 19,015 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 16,608 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

DRCT has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a report on Tuesday, June 30th. Wall Street Zen upgraded Direct Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

Direct Digital Stock Performance

Shares of Direct Digital stock traded up $0.06 during midday trading on Thursday, hitting $2.46. 5,085 shares of the company traded hands, compared to its average volume of 383,987. The stock has a market cap of $1.82 million, a price-to-earnings ratio of -0.01 and a beta of 5.32. The firm’s fifty day moving average price is $2.83 and its 200-day moving average price is $4.26. Direct Digital has a 12 month low of $2.17 and a 12 month high of $172.70.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($7.25) EPS for the quarter, beating the consensus estimate of ($7.74) by $0.49. The company had revenue of $6.68 million during the quarter, compared to the consensus estimate of $6.82 million. Equities research analysts forecast that Direct Digital will post -12.75 earnings per share for the current year.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd boosted its position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the period. XTX Topco Ltd owned 0.28% of Direct Digital worth $30,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.02% of the company’s stock.

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.