Direct Digital (NASDAQ:DRCT) Stock to Reverse Split on Monday, January 12th

Direct Digital Holdings, Inc. (NASDAQ:DRCT)’s stock is set to reverse split on Monday, January 12th. The 1-55 reverse split was announced on Thursday, January 8th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, January 9th.

Direct Digital Price Performance

Shares of Direct Digital stock traded down $0.00 during trading on Thursday, hitting $0.05. 30,063,285 shares of the stock were exchanged, compared to its average volume of 15,593,734. The firm’s 50-day moving average price is $0.14 and its 200 day moving average price is $0.34. The stock has a market cap of $1.51 million, a price-to-earnings ratio of -0.04 and a beta of 6.00. Direct Digital has a 12-month low of $0.04 and a 12-month high of $2.61.

Direct Digital (NASDAQ:DRCT) last posted its earnings results on Wednesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $14.50 million. As a group, research analysts forecast that Direct Digital will post -1.91 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Direct Digital in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Hedge Funds Weigh In On Direct Digital

A hedge fund recently raised its stake in Direct Digital stock. XTX Topco Ltd grew its position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) by 252.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after acquiring an additional 38,534 shares during the period. XTX Topco Ltd owned about 0.28% of Direct Digital worth $30,000 at the end of the most recent quarter. 4.02% of the stock is owned by hedge funds and other institutional investors.

Direct Digital Company Profile

Direct Digital Holdings, Inc (NASDAQ: DRCT) is a provider of cloud-based marketing software and services tailored to mortgage lenders and real estate professionals. The company’s integrated platform is designed to help its clients generate, nurture and convert leads through customer relationship management (CRM), automated marketing campaigns, customizable websites and digital content delivery. By combining proprietary tools with expert support, Direct Digital enables users to streamline workflows, improve customer engagement and drive growth in competitive markets.

The company’s flagship offerings include a CRM system that centralizes prospect and client data, marketing automation that triggers timely email and digital campaigns, and website solutions that are optimized for lead capture and search-engine visibility.