Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 57.8% in March

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 26,262 shares, a decrease of 57.8% from the February 26th total of 62,292 shares. Currently, 6.5% of the company’s shares are sold short. Based on an average trading volume of 124,662 shares, the days-to-cover ratio is currently 0.2 days.

Direct Digital Trading Down 4.5%

NASDAQ:DRCT opened at $0.79 on Thursday. The firm’s fifty day simple moving average is $1.52 and its 200 day simple moving average is $8.50. Direct Digital has a twelve month low of $0.78 and a twelve month high of $80.30. The firm has a market capitalization of $434,500.00, a price-to-earnings ratio of -0.01 and a beta of 6.09.

Wall Street Analyst Weigh In

DRCT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Direct Digital in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Direct Digital to a “sell” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $330.00.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd lifted its stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,787 shares of the company’s stock after buying an additional 38,534 shares during the period. XTX Topco Ltd owned approximately 0.28% of Direct Digital worth $30,000 as of its most recent SEC filing. Hedge funds and other 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.