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.
Get Direct Digital alerts: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.
Direct Digital (NASDAQ:DRCT – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The firm had revenue of $25.99 million for the quarter, compared to the consensus estimate of $18.63 million. Direct Digital had a net margin of 0.87% and a return on equity of 99.00%. Equities analysts anticipate that Direct Digital will post 0.36 earnings per share for the current year.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
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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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