Direct Digital (NASDAQ:DRCT) Shares Set to Reverse Split on Monday, January 12th
by Doug Wharley · The Cerbat GemDirect Digital Holdings, Inc. (NASDAQ:DRCT – Free Report)’s stock is set to reverse split on the morning of Monday, January 12th. The 1-55 reverse split was announced on Thursday, January 8th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, January 9th.
Direct Digital Stock Performance
NASDAQ:DRCT traded down $0.00 during mid-day trading on Thursday, reaching $0.05. The stock had a trading volume of 30,063,285 shares, compared to its average volume of 15,593,734. Direct Digital has a twelve month low of $0.04 and a twelve month high of $2.61. The business has a 50 day simple moving average of $0.14 and a 200 day simple moving average of $0.34. The firm has a market capitalization of $1.51 million, a price-to-earnings ratio of -0.04 and a beta of 6.00.
Direct Digital (NASDAQ:DRCT – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The business had revenue of $7.98 million during the quarter, compared to the consensus estimate of $14.50 million. As a group, sell-side analysts expect that Direct Digital will post -1.91 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Direct Digital has an average rating of “Hold” and a consensus target price of $6.00.
Check Out Our Latest Stock Analysis on Direct Digital
Institutional Trading of Direct Digital
An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd raised its position in Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) by 252.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the period. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 at the end of the most recent reporting period. 4.02% of the stock is owned by hedge funds and other 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.