Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Update

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 10,104 shares, a decline of 46.9% from the June 30th total of 19,015 shares. Based on an average daily trading volume, of 16,608 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.8% of the company’s shares are short sold.

Direct Digital Stock Up 2.4%

NASDAQ DRCT traded up $0.06 on Friday, reaching $2.55. The company had a trading volume of 6,097 shares, compared to its average volume of 381,399. Direct Digital has a 52 week low of $2.17 and a 52 week high of $172.70. The stock’s 50 day moving average is $2.81 and its 200-day moving average is $4.21. The stock has a market cap of $1.89 million, a price-to-earnings ratio of -0.01 and a beta of 5.32.

Direct Digital (NASDAQ:DRCT) last issued its earnings results 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 the consensus estimate of $6.82 million. As a group, analysts forecast that Direct Digital will post -12.75 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Direct Digital stock. XTX Topco Ltd raised its position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to its most recent Form 13F 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 approximately 0.28% of Direct Digital worth $30,000 as of its most recent filing with the SEC. 4.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DRCT. Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a report on Tuesday, June 30th. 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 equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Direct Digital has a consensus rating of “Reduce”.

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.