Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Up 144.7% in December

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 224,600 shares, an increase of 144.7% from the November 30th total of 91,800 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,560,000 shares, the short-interest ratio is currently 0.1 days.

Direct Digital Stock Down 16.3 %

Direct Digital stock opened at $2.52 on Friday. Direct Digital has a 52-week low of $0.51 and a 52-week high of $35.88. The firm’s fifty day moving average is $1.89 and its 200 day moving average is $2.81. The company has a market cap of $36.95 million, a price-to-earnings ratio of -2.15 and a beta of 6.83.

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

Hedge Funds 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 stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 2nd quarter, according to its most recent 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 4.02% of the company’s stock.

About Direct Digital

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.