Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Grows By 58.9%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 191,200 shares, a growth of 58.9% from the October 31st total of 120,300 shares. Approximately 6.0% of the company’s stock are short sold. Based on an average trading volume of 102,300 shares, the days-to-cover ratio is currently 1.9 days.

Direct Digital Trading Down 0.8 %

Shares of DRCT traded down $0.01 during trading hours on Friday, hitting $1.20. The company had a trading volume of 61,043 shares, compared to its average volume of 112,531. The company has a market capitalization of $17.59 million, a PE ratio of -1.03 and a beta of 7.45. Direct Digital has a one year low of $1.15 and a one year high of $35.88. The company’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $3.04.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Tuesday, October 15th. The company reported ($0.16) EPS for the quarter. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%. The firm had revenue of $21.86 million during the quarter. Analysts forecast that Direct Digital will post -1.91 earnings per share for the current year.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd acquired a new stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned about 0.15% of Direct Digital at the end of the most recent quarter. Institutional investors own 4.02% of the company’s stock.

Direct Digital Company Profile

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.