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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 45,319 shares, an increase of 337.7% from the May 31st total of 10,353 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average trading volume of 120,129 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Direct Digital

A hedge fund recently raised its position in Direct Digital stock. XTX Topco Ltd lifted its position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after buying an additional 38,534 shares during the period. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 as of its most recent SEC filing. 4.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Direct Digital Stock Up 2.3%

Shares of NASDAQ DRCT traded up $0.06 during mid-day trading on Friday, reaching $2.65. 12,725 shares of the company were exchanged, compared to its average volume of 84,928. Direct Digital has a 52 week low of $2.17 and a 52 week high of $172.70. The company’s 50 day moving average price is $3.23 and its 200 day moving average price is $6.21. The stock has a market capitalization of $1.97 million, a PE ratio of -0.01 and a beta of 5.33.

Direct Digital (NASDAQ:DRCT) last released 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 firm had revenue of $6.68 million for the quarter, compared to analysts’ expectations of $6.82 million. On average, sell-side analysts predict that Direct Digital will post -12.75 earnings per share for the current year.

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.