Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Expands By 7.9%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 120,300 shares, an increase of 7.9% from the October 15th total of 111,500 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average daily trading volume, of 83,500 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors 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 position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) 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 0.15% of Direct Digital 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 Price Performance

Direct Digital stock opened at $1.31 on Tuesday. Direct Digital has a 1 year low of $1.28 and a 1 year high of $35.88. The firm has a 50-day moving average of $2.49 and a two-hundred day moving average of $3.26.

Direct Digital (NASDAQ:DRCT) last released its quarterly earnings data on Tuesday, October 15th. The company reported ($0.16) earnings per share (EPS) for the quarter. The company 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 -0.58 EPS for the current fiscal year.

Direct Digital Company Profile

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.