Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 44.0% in May

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 10,353 shares, a decline of 44.0% from the May 14th total of 18,481 shares. Based on an average trading volume of 22,072 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.9% of the company’s shares are short sold.

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 report on Saturday, April 11th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd raised its holdings in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after buying an additional 38,534 shares during the period. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 as of its most recent filing with the Securities and Exchange Commission. 4.02% of the stock is owned by institutional investors and hedge funds.

Direct Digital Stock Performance

Shares of NASDAQ:DRCT traded down $0.08 during trading on Tuesday, reaching $2.94. The stock had a trading volume of 17,437 shares, compared to its average volume of 478,533. The firm’s fifty day moving average is $3.24 and its 200 day moving average is $7.55. Direct Digital has a 52 week low of $2.17 and a 52 week high of $172.70. The stock has a market cap of $2.18 million, a price-to-earnings ratio of -0.01 and a beta of 5.34.

Direct Digital (NASDAQ:DRCT) last posted its quarterly earnings data on Monday, May 11th. The company reported ($7.25) EPS for the quarter, beating analysts’ consensus estimates of ($7.74) by $0.49. The firm had revenue of $6.68 million during the quarter, compared to the consensus estimate of $6.82 million. On average, research analysts forecast that Direct Digital will post -12.75 earnings per share for the current fiscal 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.