Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Significant Decline in Short Interest

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 19,015 shares, a drop of 58.0% from the June 15th total of 45,319 shares. Based on an average daily volume of 19,518 shares, the days-to-cover ratio is presently 1.0 days. Approximately 3.4% of the shares of the company are short sold.

Direct Digital Trading Up 1.2%

Shares of NASDAQ DRCT traded up $0.03 during trading on Tuesday, reaching $2.61. 4,425 shares of the company traded hands, compared to its average volume of 415,830. The firm’s fifty day simple moving average is $3.21 and its 200 day simple moving average is $5.10. The stock has a market cap of $1.93 million, a P/E ratio of -0.01 and a beta of 5.32. 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 earnings results on Monday, May 11th. The company reported ($7.25) EPS for the quarter, topping analysts’ consensus estimates of ($7.74) by $0.49. The company had revenue of $6.68 million during the quarter, compared to analysts’ expectations of $6.82 million. As a group, research analysts expect that Direct Digital will post -12.75 EPS for the current year.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its position in Direct Digital stock. XTX Topco Ltd grew its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the quarter. 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.

Analyst Ratings Changes

A number of equities research analysts recently commented on DRCT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Direct Digital in a research report on Tuesday, June 30th. 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 research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Direct Digital has a consensus rating of “Reduce”.

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.