Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Significant Drop in Short Interest

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 18,481 shares, a decline of 91.4% from the April 30th total of 215,086 shares. Based on an average daily volume of 164,314 shares, the short-interest ratio is presently 0.1 days. Currently, 3.3% of the shares of the company are sold short.

Institutional Trading of Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd increased its stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to its most recent filing with the SEC. 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 0.28% of Direct Digital worth $30,000 as of its most recent SEC filing. 4.02% of the stock is owned by institutional investors and hedge funds.

Direct Digital Stock Down 3.7%

DRCT traded down $0.12 during trading on Thursday, reaching $3.05. 20,306 shares of the company were exchanged, compared to its average volume of 524,529. The company’s 50-day moving average is $3.31 and its two-hundred day moving average is $10.98. The company has a market cap of $2.27 million, a price-to-earnings ratio of -0.02 and a beta of 5.44. Direct Digital has a 12-month low of $2.17 and a 12-month high of $172.70.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($7.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.74) by $0.49. The company had revenue of $6.68 million for the quarter, compared to analysts’ expectations of $6.82 million. Equities analysts forecast that Direct Digital will post -12.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Direct Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

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.