Direct Digital Holdings, Inc. (NASDAQ:DRCT) Short Interest Up 648.5% in April

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 215,086 shares, a growth of 648.5% from the April 15th total of 28,736 shares. Currently, 38.9% of the shares of the stock are short sold. Based on an average trading volume of 885,745 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

A number of research analysts recently commented on DRCT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Direct Digital in a report on Wednesday, January 21st. 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. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Direct Digital Trading Up 1.8%

Shares of Direct Digital stock opened at $3.68 on Thursday. The firm’s 50 day moving average is $3.40 and its 200 day moving average is $16.12. The firm has a market capitalization of $2.72 million, a PE ratio of -0.02 and a beta of 5.44. Direct Digital has a 1 year low of $2.17 and a 1 year high of $172.70.

Direct Digital (NASDAQ:DRCT) last issued its earnings results on Monday, May 11th. The company reported ($7.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.74) by $0.49. The firm had revenue of $6.68 million during the quarter, compared to analyst estimates of $6.82 million. As a group, research analysts anticipate that Direct Digital will post -40.44 earnings per share for the current year.

Hedge Funds Weigh In On Direct Digital

An institutional investor recently raised its position in Direct Digital stock. XTX Topco Ltd grew its stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,787 shares of the company’s stock after buying an additional 38,534 shares during the period. XTX Topco Ltd owned 0.28% of Direct Digital worth $30,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 4.02% of the company’s stock.

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.