Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 91.4% in May
by Renee Jackson · The Cerbat GemDirect Digital Holdings, Inc. (NASDAQ:DRCT – Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 18,481 shares, a drop of 91.4% from the April 30th total of 215,086 shares. Based on an average trading volume of 164,314 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.3% of the company’s shares are sold short.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of Direct Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Direct Digital currently has an average rating of “Reduce”.
Check Out Our Latest Research Report on DRCT
Direct Digital Stock Performance
Shares of NASDAQ:DRCT traded down $0.22 during midday trading on Friday, hitting $2.83. 41,778 shares of the company’s stock traded hands, compared to its average volume of 520,000. The company has a market cap of $2.09 million, a PE ratio of -0.01 and a beta of 5.44. The firm’s fifty day moving average price is $3.28 and its two-hundred day moving average price is $10.62. Direct Digital has a twelve month low of $2.17 and a twelve month high of $172.70.
Direct Digital (NASDAQ:DRCT – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($7.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.74) by $0.49. The firm had revenue of $6.68 million for the quarter, compared to analysts’ expectations of $6.82 million. As a group, equities research analysts anticipate that Direct Digital will post -12.75 EPS for the current fiscal year.
Institutional Trading of Direct Digital
An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd increased its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) by 252.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,787 shares of the company’s stock after acquiring an additional 38,534 shares during the quarter. XTX Topco Ltd owned 0.28% of Direct Digital worth $30,000 as of its most recent SEC filing. 4.02% of the stock is currently owned by 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.