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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant growth in short interest during the month of 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 trading volume of 83,500 shares, the short-interest ratio is presently 1.4 days. Currently, 4.2% of the company’s stock are sold short.

Institutional Trading of Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd purchased a new stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned 0.15% of Direct Digital as of its most recent filing with the Securities & Exchange Commission. 4.02% of the stock is currently owned by institutional investors.

Direct Digital Price Performance

NASDAQ:DRCT opened at $1.31 on Tuesday. Direct Digital has a 52 week low of $1.28 and a 52 week high of $35.88. The firm has a 50 day moving average of $2.49 and a 200 day moving average of $3.26.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings results on Tuesday, October 15th. The company reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $21.86 million for the quarter. Direct Digital had a negative net margin of 5.61% and a negative return on equity of 25.66%. Equities research analysts anticipate that Direct Digital will post -0.58 EPS for the current year.

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.