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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 121,500 shares, a decrease of 57.8% from the March 31st total of 287,800 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average trading volume of 227,200 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Intrinsic Edge Capital Management LLC acquired a new position in shares of Direct Digital in the fourth quarter worth $1,155,000. Warberg Asset Management LLC acquired a new stake in Direct Digital in the 3rd quarter valued at about $76,000. Raymond James & Associates purchased a new position in shares of Direct Digital in the 4th quarter valued at about $404,000. Denali Advisors LLC acquired a new position in shares of Direct Digital during the fourth quarter worth about $359,000. Finally, Perritt Capital Management Inc. increased its stake in shares of Direct Digital by 31.2% during the third quarter. Perritt Capital Management Inc. now owns 52,480 shares of the company’s stock worth $134,000 after buying an additional 12,480 shares during the period. Institutional investors and hedge funds own 4.02% of the company’s stock.

Wall Street Analyst Weigh In

DRCT has been the topic of several research analyst reports. Roth Mkm lowered their price objective on Direct Digital from $27.50 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Noble Financial reaffirmed a “market perform” rating on shares of Direct Digital in a research note on Wednesday, March 27th. TheStreet downgraded Direct Digital from a “c” rating to a “d+” rating in a research note on Wednesday, February 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $23.00 target price on shares of Direct Digital in a research note on Wednesday.

Direct Digital Trading Down 7.2 %

DRCT stock traded down $0.44 during midday trading on Friday, hitting $5.68. 142,599 shares of the company’s stock were exchanged, compared to its average volume of 115,514. Direct Digital has a 1-year low of $1.96 and a 1-year high of $35.88. The business has a 50-day simple moving average of $17.37 and a two-hundred day simple moving average of $12.21. The stock has a market capitalization of $81.05 million, a PE ratio of 40.57 and a beta of 7.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 3.51.

Direct Digital (NASDAQ:DRCT) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). Direct Digital had a return on equity of 48.38% and a net margin of 1.26%. The business had revenue of $41.01 million for the quarter, compared to analyst estimates of $66.02 million. During the same period in the previous year, the business posted $0.01 earnings per share. On average, sell-side analysts predict that Direct Digital will post 0.16 EPS for the current fiscal year.

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.