Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Expands By 59.9%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 96,900 shares, agrowthof59.9% from the July 15th total of 60,600 shares. Based on an average daily trading volume, of 441,900 shares, the days-to-cover ratio is currently 0.2 days. Currently,1.3% of the company’s shares are short sold. Currently,1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 441,900 shares, the days-to-cover ratio is currently 0.2 days.

Direct Digital Price Performance

Shares of Direct Digital stock opened at $0.3930 on Wednesday. Direct Digital has a 1 year low of $0.3801 and a 1 year high of $6.59. The business has a 50-day moving average of $0.53 and a two-hundred day moving average of $0.68. The company has a market capitalization of $8.85 million, a P/E ratio of -0.21 and a beta of 6.04.

Direct Digital (NASDAQ:DRCT) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.73. The business had revenue of $10.14 million during the quarter, compared to the consensus estimate of $11.84 million. On average, equities analysts anticipate that Direct Digital will post -1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently bought a new position in Direct Digital stock. Citadel Advisors LLC acquired a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned approximately 0.30% of Direct Digital as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 4.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on DRCT shares. Zacks Research raised Direct Digital to a “hold” rating in a research note on Friday, August 8th. Benchmark cut their target price on Direct Digital from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Direct Digital presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Direct Digital Company Profile

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.