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

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

Direct Digital Trading Up 0.9 %

Shares of DRCT stock opened at $0.95 on Friday. Direct Digital has a twelve month low of $0.51 and a twelve month high of $35.88. The stock has a market capitalization of $13.91 million, a price-to-earnings ratio of -0.81 and a beta of 6.56. The stock has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $1.97.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Citadel Advisors LLC acquired a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned about 0.30% of Direct Digital at the end of the most recent reporting period. 4.02% of the stock is currently owned by institutional investors.

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.