Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Rises By 58.9%

Posted by Amber O'Connor on Nov 29th, 2024

Direct Digital Holdings, Inc. (NASDAQ:DRCT – Get Free Report) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 191,200 shares, an increase of 58.9% from the October 31st total of 120,300 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average trading volume of 102,300 shares, the days-to-cover ratio is currently 1.9 days.

Direct Digital Price Performance

Shares of NASDAQ DRCT opened at $1.21 on Friday. Direct Digital has a 52 week low of $1.15 and a 52 week high of $35.88. The business’s 50-day simple moving average is $2.28 and its 200-day simple moving average is $3.07.

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

Hedge Funds Weigh In On Direct Digital

An institutional investor recently bought a new position in Direct Digital stock. Privium Fund Management UK Ltd purchased a new stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing. Institutional investors own 4.02% of the company’s stock.

Direct Digital Company Profile

(Get Free Report)

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.