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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 10,104 shares, a drop of 46.9% from the June 30th total of 19,015 shares. Based on an average daily volume of 16,608 shares, the short-interest ratio is currently 0.6 days. Currently, 1.8% of the shares of the company are short sold.

Analysts Set New Price Targets

DRCT has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Direct Digital in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Direct Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. One equities 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”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd grew its stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,787 shares of the company’s stock after purchasing an additional 38,534 shares during the quarter. XTX Topco Ltd owned approximately 0.28% of Direct Digital worth $30,000 at the end of the most recent quarter. 4.02% of the stock is currently owned by institutional investors and hedge funds.

Direct Digital Trading Down 3.1%

NASDAQ DRCT traded down $0.08 on Wednesday, hitting $2.49. 13,639 shares of the company’s stock were exchanged, compared to its average volume of 386,567. The stock has a market cap of $1.84 million, a price-to-earnings ratio of -0.01 and a beta of 5.32. Direct Digital has a 52 week low of $2.17 and a 52 week high of $172.70. The stock has a 50-day moving average of $2.85 and a 200-day moving average of $4.32.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($7.25) EPS for the quarter, beating the consensus estimate of ($7.74) by $0.49. The company had revenue of $6.68 million during the quarter, compared to the consensus estimate of $6.82 million. As a group, analysts predict that Direct Digital will post -12.75 earnings per share for the current year.

Direct Digital Company Profile

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.