Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Large Increase in Short Interest

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 55,400 shares, an increase of 40.3% from the August 15th total of 39,500 shares. Based on an average daily volume of 346,400 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.0% of the shares of the company are short sold.

Hedge Funds 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 position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the second quarter, according to the company in its most recent 13F 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 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 4.02% of the company’s stock.

Direct Digital Price Performance

Shares of NASDAQ:DRCT traded down $0.06 on Monday, reaching $2.46. The company’s stock had a trading volume of 4,969 shares, compared to its average volume of 256,598. Direct Digital has a 52-week low of $2.14 and a 52-week high of $35.88. The stock has a market capitalization of $35.10 million, a P/E ratio of 18.00 and a beta of 7.59. The stock’s 50-day moving average is $3.46 and its two-hundred day moving average is $7.69.

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.