Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Increases By 648.5%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 215,086 shares, an increase of 648.5% from the April 15th total of 28,736 shares. Based on an average daily volume of 885,745 shares, the days-to-cover ratio is currently 0.2 days. Approximately 38.9% of the shares of the company are short sold.

Direct Digital Trading Down 13.7%

Shares of Direct Digital stock traded down $0.51 on Tuesday, reaching $3.20. 66,617 shares of the company were exchanged, compared to its average volume of 585,664. Direct Digital has a fifty-two week low of $2.17 and a fifty-two week high of $172.70. The stock has a fifty day moving average price of $3.43 and a 200-day moving average price of $17.22. The firm has a market capitalization of $2.37 million, a price-to-earnings ratio of -0.01 and a beta of 5.44.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Monday, May 11th. The company reported ($10.32) EPS for the quarter, missing the consensus estimate of ($7.74) by ($2.58). The business had revenue of $6.68 million for the quarter, compared to the consensus estimate of $6.82 million. On average, equities analysts anticipate that Direct Digital will post -40.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DRCT shares. Wall Street Zen upgraded shares of Direct Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Direct Digital presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd lifted its holdings in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the period. XTX Topco Ltd owned 0.28% of Direct Digital worth $30,000 at the end of the most recent reporting period. 4.02% of the stock is currently owned by institutional investors.

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.