Direct Digital Holdings, Inc. (NASDAQ:DRCT) Stock Short Interest Rises 1,501.8%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 133,240 shares, a growth of 1,501.8% from the August 31st total of 8,318 shares. Currently, 22.3% of the shares of the company are short sold. Based on an average daily trading volume, of 834,309 shares, the short-interest ratio is presently 0.2 days.

Direct Digital Price Performance

Shares of NASDAQ:DRCT opened at $1.57 on Friday. Direct Digital has a 1 year low of $1.55 and a 1 year high of $113.81. The business’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $2.84. The company has a market capitalization of $1.26 million, a P/E ratio of -0.01 and a beta of 5.30.

Direct Digital (NASDAQ:DRCT) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($5.78) EPS for the quarter, topping analysts’ consensus estimates of ($9.60) by $3.82. The company had revenue of $7.83 million during the quarter, compared to the consensus estimate of $8.84 million. On average, sell-side analysts anticipate that Direct Digital will post -18.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Direct Digital in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Direct Digital currently has an average rating of “Sell”.

Direct Digital Company Profile

Direct Digital Holdings, Inc is a digital advertising and marketing technology company that provides programmatic advertising solutions to advertisers, agencies and digital publishers. The company helps businesses reach targeted audiences across multiple digital channels, including display, video, mobile, connected television and audio.

Direct Digital operates through two primary business areas. Its buy-side platform, Colossus Media, helps advertisers and agencies plan, purchase and optimize digital media campaigns, with an emphasis on reaching multicultural and diverse audiences.