Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Increases By 7.9%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 120,300 shares, a growth of 7.9% from the October 15th total of 111,500 shares. Based on an average daily trading volume, of 83,500 shares, the days-to-cover ratio is presently 1.4 days. Approximately 4.2% of the shares of the stock are sold short.

Direct Digital Trading Down 16.6 %

Shares of NASDAQ DRCT opened at $1.31 on Tuesday. Direct Digital has a 12-month low of $1.28 and a 12-month high of $35.88. The stock has a market capitalization of $19.20 million, a price-to-earnings ratio of -1.12 and a beta of 7.45. The firm’s 50-day moving average price is $2.49 and its 200-day moving average price is $3.26.

Direct Digital (NASDAQ:DRCT) last posted its quarterly earnings data on Tuesday, October 15th. The company reported ($0.16) earnings per share for the quarter. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%. The firm had revenue of $21.86 million during the quarter. On average, equities analysts predict that Direct Digital will post -0.58 EPS for the current fiscal year.

Institutional Trading of Direct Digital

An institutional investor recently bought a new position in Direct Digital stock. Privium Fund Management UK Ltd acquired a new position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned 0.15% of Direct Digital at the end of the most recent reporting period. 4.02% of the stock is owned by hedge funds and other institutional investors.

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.