Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Update

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 58,700 shares, an increase of 6.0% from the August 31st total of 55,400 shares. Based on an average daily trading volume, of 98,500 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd bought a new stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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. Institutional investors and hedge funds own 4.02% of the company’s stock.

Direct Digital Stock Performance

DRCT opened at $1.99 on Wednesday. The company’s 50-day simple moving average is $3.05 and its two-hundred day simple moving average is $6.03. The stock has a market capitalization of $28.40 million, a P/E ratio of 13.57 and a beta of 7.59. Direct Digital has a 52-week low of $1.90 and a 52-week high of $35.88.

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.