Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Rises By 142.5%

by · The Markets Daily

Direct Digital Holdings, Inc. (NASDAQ:DRCT – Get Free Report) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 2,570,000 shares, an increase of 142.5% from the September 30th total of 1,060,000 shares. Based on an average daily volume of 2,390,000 shares, the days-to-cover ratio is presently 1.1 days. Currently, 24.3% of the company’s stock are short sold. Currently, 24.3% of the company’s stock are short sold. Based on an average daily volume of 2,390,000 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd lifted its holdings in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) by 252.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Direct Digital in a research report on Wednesday, October 8th. Zacks Research upgraded Direct Digital to a “hold” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.00.

Check Out Our Latest Analysis on Direct Digital

Direct Digital Trading Up 3.6%

Shares of NASDAQ:DRCT opened at $0.38 on Friday. The stock’s fifty day simple moving average is $0.38 and its two-hundred day simple moving average is $0.49. Direct Digital has a 1-year low of $0.28 and a 1-year high of $6.59. The stock has a market cap of $8.54 million, a PE ratio of -0.21 and a beta of 5.88.

Direct Digital (NASDAQ:DRCT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.73. The company had revenue of $10.14 million for the quarter, compared to the consensus estimate of $11.84 million. On average, sell-side analysts forecast that Direct Digital will post -1.91 earnings per share for the current fiscal year.

About Direct Digital

(Get Free Report)

Direct Digital Holdings, Inc operates as an end-to-end full-service programmatic advertising platform. The company's platform primarily focuses on providing advertising technology, data-driven campaign optimization, and other solutions to underserved and less efficient markets on both the buy- and sell-side of the digital advertising ecosystem.

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