Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 44.0% in May

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 10,353 shares, a decrease of 44.0% from the May 14th total of 18,481 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 22,072 shares, the short-interest ratio is currently 0.5 days.

Direct Digital Price Performance

DRCT stock traded up $0.12 during trading on Friday, reaching $3.03. The company had a trading volume of 50,529 shares, compared to its average volume of 81,715. Direct Digital has a 52 week low of $2.17 and a 52 week high of $172.70. The company has a market cap of $2.24 million, a P/E ratio of -0.02 and a beta of 5.33. The business has a 50 day moving average of $3.24 and a 200 day moving average of $7.94.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Monday, May 11th. The company reported ($7.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.74) by $0.49. The business had revenue of $6.68 million for the quarter, compared to the consensus estimate of $6.82 million. Research analysts expect that Direct Digital will post -12.75 earnings per share for the current year.

Institutional Trading of Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd raised its stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,787 shares of the company’s stock after acquiring 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 SEC filing. 4.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Direct Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Direct Digital currently has a consensus rating of “Reduce”.

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.