Direct Digital Stock Scheduled to Reverse Split on Monday, April 27th (NASDAQ:DRCT)
by Amy Steele · The Cerbat GemShares of Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) are set to reverse split before the market opens on Monday, April 27th. The 1-4 reverse split was announced on Thursday, April 23rd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 24th.
Direct Digital Stock Down 6.1%
NASDAQ DRCT traded down $0.04 on Thursday, reaching $0.66. The stock had a trading volume of 143,821 shares, compared to its average volume of 2,124,133. The firm has a market capitalization of $364,650.00, a price-to-earnings ratio of -0.01 and a beta of 6.04. Direct Digital has a 12-month low of $0.55 and a 12-month high of $67.65. The stock has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $5.71.
Direct Digital (NASDAQ:DRCT – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($22.00) earnings per share for the quarter, missing the consensus estimate of ($17.58) by ($4.42). The business had revenue of $8.41 million during the quarter, compared to the consensus estimate of $7.74 million. During the same period in the prior year, the company posted ($29.88) earnings per share. Sell-side analysts forecast that Direct Digital will post -10.11 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have commented on DRCT. Wall Street Zen upgraded shares of Direct Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Direct Digital in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Direct Digital has an average rating of “Hold” and a consensus price target of $330.00.
Check Out Our Latest Research Report on DRCT
Institutional Trading of Direct Digital
An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd increased its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) by 252.6% in the 2nd quarter, according to its most recent disclosure 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 approximately 0.28% of Direct Digital worth $30,000 as of its most recent SEC filing. Institutional investors 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.