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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 644,200 shares, a decrease of 11.4% from the January 15th total of 726,700 shares. Based on an average daily trading volume, of 2,550,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 17.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On Direct Digital

An institutional investor recently bought a new position in Direct Digital stock. Citadel Advisors LLC bought a new stake in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned about 0.30% of Direct Digital as of its most recent filing with the SEC. 4.02% of the stock is owned by institutional investors and hedge funds.

Direct Digital Price Performance

NASDAQ:DRCT traded up $0.02 during trading hours on Tuesday, reaching $1.14. 115,163 shares of the company traded hands, compared to its average volume of 1,822,360. The firm’s 50-day moving average is $1.46 and its 200-day moving average is $2.10. The stock has a market cap of $16.71 million, a P/E ratio of -0.97 and a beta of 6.56. Direct Digital has a 1-year low of $0.51 and a 1-year high of $35.88.

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.