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

Posted by Stephan Jacobs on Nov 29th, 2024

Direct Digital Holdings, Inc. (NASDAQ:DRCT – Get Free Report) was the recipient of a large growth in short interest in the month of 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. Currently, 6.0% of the company’s stock are sold short. Based on an average trading volume of 102,300 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently bought a new position in Direct Digital stock. Privium Fund Management UK Ltd purchased a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 as of its most recent SEC filing. Institutional investors own 4.02% of the company’s stock.

Direct Digital Stock Down 5.5 %

NASDAQ:DRCT opened at $1.21 on Friday. Direct Digital has a fifty-two week low of $1.15 and a fifty-two week high of $35.88. The stock’s 50-day moving average is $2.28 and its two-hundred day moving average is $3.07.

Direct Digital (NASDAQ:DRCT – Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The company reported ($0.16) earnings per share for the quarter. Direct Digital had a negative net margin of 5.61% and a negative return on equity of 25.66%. The company had revenue of $21.86 million during the quarter. As a group, research analysts expect that Direct Digital will post -1.91 EPS for the current year.

About Direct Digital

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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.