Direct Digital Holdings, Inc. (NASDAQ:DRCT – Get Rating) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 12,400 shares, a decline of 72.8% from the December 31st total of 45,600 shares. Approximately 0.4% of the company's shares are short sold. Based on an average daily volume of 76,700 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Direct Digital

A number of institutional investors have recently bought and sold shares of DRCT. Vanguard Group Inc. boosted its position in shares of Direct Digital by 335.1% during the 3rd quarter. Vanguard Group Inc. now owns 123,024 shares of the company's stock worth $276,000 after purchasing an additional 94,748 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Direct Digital by 146.5% during the 3rd quarter. Two Sigma Investments LP now owns 28,760 shares of the company's stock worth $64,000 after purchasing an additional 17,095 shares in the last quarter. State Street Corp bought a new position in shares of Direct Digital during the 3rd quarter worth about $36,000. UBS Group AG bought a new position in shares of Direct Digital during the 1st quarter worth about $31,000. Finally, Renaissance Technologies LLC bought a new position in shares of Direct Digital during the 3rd quarter worth about $30,000. Institutional investors own 7.34% of the company's stock.

Direct Digital Trading Up 15.5 %

DRCT traded up $0.69 during trading on Friday, reaching $5.15. 256,882 shares of the stock traded hands, compared to its average volume of 84,718. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 4.62. The stock has a market capitalization of $74.88 million and a PE ratio of -0.08. The stock's 50-day moving average is $3.00 and its 200 day moving average is $2.71. Direct Digital has a 12 month low of $1.16 and a 12 month high of $5.49.

Analyst Upgrades and Downgrades

Separately, Benchmark boosted their price objective on shares of Direct Digital to $10.00 in a research note on Wednesday, November 16th.

Direct Digital Company Profile

(Get Rating)

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.

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