Direct Digital Shares Set to Reverse Split on Monday, April 27th (NASDAQ:DRCT)

Shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) are going to reverse split on Monday, April 27th. The 1-4 reverse split was announced on Thursday, April 23rd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 24th.

Direct Digital Trading Down 6.1%

NASDAQ:DRCT traded down $0.04 during trading hours on Thursday, hitting $0.66. The company had a trading volume of 143,821 shares, compared to its average volume of 2,124,133. The company has a 50-day moving average of $0.94 and a 200 day moving average of $5.74. The company has a market cap of $364,650.00, a P/E ratio of -0.01 and a beta of 6.04. Direct Digital has a 1 year low of $0.55 and a 1 year high of $67.65.

Direct Digital (NASDAQ:DRCT) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($22.00) earnings per share for the quarter, missing the consensus estimate of ($17.58) by ($4.42). The firm had revenue of $8.41 million for the quarter, compared to analysts’ expectations of $7.74 million. During the same quarter last year, the firm posted ($29.88) earnings per share. On average, analysts forecast that Direct Digital will post -10.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on DRCT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Direct Digital in a research report on Wednesday, January 21st. Wall Street Zen upgraded Direct Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $330.00.

Institutional Investors Weigh In On Direct Digital

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

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.