Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Down 58.0% in June

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 19,015 shares, a decline of 58.0% from the June 15th total of 45,319 shares. Based on an average daily volume of 19,518 shares, the days-to-cover ratio is currently 1.0 days. Approximately 3.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Direct Digital stock. XTX Topco Ltd raised its holdings in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 53,787 shares of the company’s stock after acquiring an additional 38,534 shares during the quarter. 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.

Direct Digital Stock Up 0.4%

Shares of DRCT stock opened at $2.58 on Thursday. Direct Digital has a twelve month low of $2.17 and a twelve month high of $172.70. The business has a fifty day simple moving average of $3.08 and a 200 day simple moving average of $4.96. The company has a market cap of $1.91 million, a P/E ratio of -0.01 and a beta of 5.32.

Direct Digital (NASDAQ:DRCT) last posted its quarterly 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 company had revenue of $6.68 million during the quarter, compared to analyst estimates of $6.82 million. As a group, equities research analysts anticipate that Direct Digital will post -12.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DRCT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Direct Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Direct Digital in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average 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.