Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Large Growth in Short Interest
by Teresa Graham · The Cerbat GemDirect Digital Holdings, Inc. (NASDAQ:DRCT – Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 78,708 shares, an increase of 199.7% from the March 15th total of 26,262 shares. Based on an average daily trading volume, of 92,790 shares, the days-to-cover ratio is currently 0.8 days. Currently, 19.4% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Wall Street Zen raised Direct Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Direct Digital in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $330.00.
View Our Latest Research Report on DRCT
Institutional Investors Weigh In On Direct Digital
A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd grew its holdings in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) by 252.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the quarter. XTX Topco Ltd owned approximately 0.28% of Direct Digital worth $30,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 4.02% of the company’s stock.
Direct Digital Stock Performance
Shares of NASDAQ DRCT traded down $0.08 during midday trading on Friday, hitting $0.60. 360,323 shares of the company’s stock traded hands, compared to its average volume of 91,673. Direct Digital has a 1 year low of $0.55 and a 1 year high of $67.65. The stock has a market capitalization of $327,250.00, a price-to-earnings ratio of -0.01 and a beta of 6.04. The firm has a fifty day moving average of $1.11 and a 200 day moving average of $6.81.
Direct Digital (NASDAQ:DRCT – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($22.00) EPS for the quarter, missing the consensus estimate of ($17.58) by ($4.42). The firm had revenue of $8.41 million for the quarter, compared to analysts’ expectations of $7.74 million. During the same period in the prior year, the firm earned ($29.88) earnings per share. On average, equities analysts anticipate that Direct Digital will post -1.91 earnings per share for the current year.
About Direct Digital
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.