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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 191,200 shares, a growth 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 daily trading volume, of 102,300 shares, the days-to-cover ratio is presently 1.9 days.

Direct Digital Stock Down 0.8 %

Shares of DRCT traded down $0.01 during mid-day trading on Friday, hitting $1.20. 61,043 shares of the company’s stock were exchanged, compared to its average volume of 112,531. Direct Digital has a twelve month low of $1.15 and a twelve month high of $35.88. The firm has a fifty day moving average of $2.26 and a two-hundred day moving average of $3.04. The stock has a market cap of $17.59 million, a price-to-earnings ratio of -1.03 and a beta of 7.45.

Direct Digital (NASDAQ:DRCT) last announced its earnings results on Tuesday, October 15th. The company reported ($0.16) earnings per share for the quarter. Direct Digital had a negative return on equity of 25.66% and a negative net margin of 5.61%. The company had revenue of $21.86 million during the quarter. On average, equities analysts predict that Direct Digital will post -1.91 earnings per share for the current year.

Institutional Investors Weigh In On Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd bought a new stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 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 filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 4.02% of the company’s stock.

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.