Direct Digital Holdings, Inc. (NASDAQ:DRCT) Sees Large Growth in Short Interest

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 191,200 shares, a growth of 58.9% from the October 31st total of 120,300 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 102,300 shares, the days-to-cover ratio is presently 1.9 days.

Direct Digital Stock Down 0.8 %

Direct Digital stock traded down $0.01 during mid-day trading on Friday, reaching $1.20. 61,043 shares of the company’s stock traded hands, compared to its average volume of 112,531. Direct Digital has a 12-month low of $1.15 and a 12-month high of $35.88. The company has a market cap of $17.59 million, a price-to-earnings ratio of -1.03 and a beta of 7.45. The stock has a 50 day moving average of $2.26 and a two-hundred day moving average of $3.04.

Direct Digital (NASDAQ:DRCT) last released its quarterly earnings results on Tuesday, October 15th. The company reported ($0.16) EPS for the quarter. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%. The company had revenue of $21.86 million during the quarter. As a group, sell-side analysts forecast that Direct Digital will post -1.91 earnings per share for the current year.

Hedge Funds Weigh In On Direct Digital

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

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.