Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Grows By 144.7%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 224,600 shares, a growth of 144.7% from the November 30th total of 91,800 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 0.1 days.

Direct Digital Stock Down 18.9 %

Shares of Direct Digital stock opened at $3.01 on Friday. The stock has a market cap of $44.14 million, a P/E ratio of -2.57 and a beta of 6.83. Direct Digital has a 12-month low of $0.51 and a 12-month high of $35.88. The business’s 50 day moving average is $1.89 and its 200-day moving average is $2.81.

Direct Digital (NASDAQ:DRCT) last announced its quarterly earnings results on Tuesday, October 15th. The company reported ($0.16) EPS for the quarter. The firm 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%. On average, sell-side analysts expect that Direct Digital will post -1.91 EPS for the current year.

Hedge Funds Weigh In On Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd acquired a new stake in Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned about 0.15% of Direct Digital as of its most recent SEC filing. 4.02% of the stock is owned by institutional investors and hedge funds.

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.