Direct Digital Holdings, Inc. (NASDAQ:DRCT) Shares Shorted: Short Interest Up 1,501.8% in September

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a significant increase in short interest in 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. Approximately 22.3% of the company’s shares are short sold.

Analyst Ratings Changes

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

Direct Digital Price Performance

NASDAQ:DRCT traded down $0.03 during mid-day trading on Thursday, hitting $1.58. 6,560 shares of the company’s stock were exchanged, compared to its average volume of 447,038. The company has a market cap of $1.26 million, a PE ratio of -0.01 and a beta of 5.30. Direct Digital has a one year low of $1.55 and a one year high of $113.81. The business has a fifty day moving average price of $2.29 and a 200 day moving average price of $2.85.

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

About Direct Digital

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.