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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 334,300 shares, a drop of 48.1% from the January 31st total of 644,200 shares. Approximately 9.0% of the shares of the company are short sold. Based on an average trading volume of 2,550,000 shares, the days-to-cover ratio is currently 0.1 days.

Direct Digital Price Performance

DRCT stock traded down $0.06 during trading on Monday, hitting $0.89. 177,623 shares of the company traded hands, compared to its average volume of 1,449,156. The stock’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.95. The company has a market cap of $13.05 million, a PE ratio of -0.76 and a beta of 6.56. Direct Digital has a 1 year low of $0.51 and a 1 year high of $35.88.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direct Digital stock. Citadel Advisors LLC acquired a new stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned 0.30% of Direct Digital at the end of the most recent quarter. Hedge funds and other institutional investors own 4.02% of the company’s stock.

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.