Direct Digital (NASDAQ:DRCT) Receives “Sell (E+)” Rating from Weiss Ratings

Direct Digital (NASDAQ:DRCT)‘s stock had its “sell (e+)” rating reissued by investment analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Separately, Zacks Research raised Direct Digital to a “hold” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Direct Digital presently has an average rating of “Hold” and an average price target of $6.00.

Direct Digital Price Performance

Direct Digital stock opened at $0.35 on Friday. Direct Digital has a one year low of $0.28 and a one year high of $6.59. The business has a fifty day moving average price of $0.38 and a 200-day moving average price of $0.50. The firm has a market capitalization of $7.96 million, a P/E ratio of -0.19 and a beta of 5.88.

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

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd raised its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second 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 at the end of the most recent reporting period. Institutional investors own 4.02% of the company’s stock.

About Direct Digital

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.