Direct Digital Holdings, Inc. (NASDAQ:DRCT) Shares Shorted: Short Interest Up 1,501.8% in September

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 133,240 shares, a growth of 1,501.8% from the August 31st total of 8,318 shares. Based on an average daily volume of 834,309 shares, the days-to-cover ratio is currently 0.2 days. Currently, 22.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Direct Digital in a research report on Tuesday, June 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Direct Digital Stock Down 1.9%

NASDAQ DRCT traded down $0.03 during trading hours on Thursday, hitting $1.58. 6,560 shares of the company were exchanged, compared to its average volume of 447,038. The stock has a 50-day moving average price of $2.29 and a 200 day moving average price of $2.85. The stock has a market cap of $1.26 million, a PE ratio of -0.01 and a beta of 5.30. Direct Digital has a 52 week low of $1.55 and a 52 week high of $113.81.

Direct Digital (NASDAQ:DRCT) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($5.78) EPS for the quarter, topping analysts’ consensus estimates of ($9.60) by $3.82. The firm had revenue of $7.83 million for the quarter, compared to analysts’ expectations of $8.84 million. As a group, sell-side analysts anticipate that Direct Digital will post -18.97 earnings per share for the current year.

Direct Digital Company Profile

Direct Digital Holdings, Inc is a digital advertising and marketing technology company that provides programmatic advertising solutions to advertisers, agencies and digital publishers. The company helps businesses reach targeted audiences across multiple digital channels, including display, video, mobile, connected television and audio.

Direct Digital operates through two primary business areas. Its buy-side platform, Colossus Media, helps advertisers and agencies plan, purchase and optimize digital media campaigns, with an emphasis on reaching multicultural and diverse audiences.