Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 44.0% in May

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 10,353 shares, a decline of 44.0% from the May 14th total of 18,481 shares. Based on an average daily trading volume, of 22,072 shares, the short-interest ratio is currently 0.5 days. Approximately 1.9% of the shares of the stock are short sold.

Direct Digital Price Performance

DRCT stock traded up $0.12 during mid-day trading on Friday, reaching $3.03. The company had a trading volume of 50,529 shares, compared to its average volume of 81,715. The company has a market capitalization of $2.24 million, a PE ratio of -0.02 and a beta of 5.33. The firm has a 50 day moving average of $3.24 and a 200 day moving average of $7.94. Direct Digital has a 12 month low of $2.17 and a 12 month high of $172.70.

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Direct Digital presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd increased its holdings in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to the company in its most recent disclosure with the SEC. 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 as of its most recent SEC filing. 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.