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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 917,100 shares, a growth of 189.9% from the March 15th total of 316,400 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 14.0% of the shares of the company are short sold.

Direct Digital Price Performance

NASDAQ:DRCT traded down $0.01 during trading hours on Wednesday, reaching $0.54. The company had a trading volume of 40,498 shares, compared to its average volume of 918,177. The firm has a market cap of $9.62 million, a PE ratio of -0.46 and a beta of 6.63. Direct Digital has a 1-year low of $0.44 and a 1-year high of $8.70. The business’s 50 day moving average price is $0.85 and its 200-day moving average price is $1.49.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.24. Direct Digital had a negative net margin of 5.61% and a negative return on equity of 25.66%. The business had revenue of $9.08 million during the quarter, compared to the consensus estimate of $13.82 million. On average, analysts expect that Direct Digital will post -1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently bought a new position in Direct Digital stock. Citadel Advisors LLC bought a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned approximately 0.30% of Direct Digital as of its most recent SEC filing. Institutional investors and hedge funds own 4.02% of the company’s stock.

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.