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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 58,700 shares, an increase of 6.0% from the August 31st total of 55,400 shares. Based on an average daily volume of 98,500 shares, the short-interest ratio is presently 0.6 days. Currently, 2.0% of the shares of the company are sold short.

Direct Digital Price Performance

DRCT traded down $0.21 on Tuesday, reaching $1.90. 62,518 shares of the company’s stock were exchanged, compared to its average volume of 244,976. Direct Digital has a twelve month low of $1.90 and a twelve month high of $35.88. The stock has a market cap of $27.11 million, a PE ratio of 13.93 and a beta of 7.59. The stock’s fifty day moving average price is $3.05 and its 200-day moving average price is $6.03.

Hedge Funds Weigh In On Direct Digital

A hedge fund recently bought a new stake in Direct Digital stock. Intrinsic Edge Capital Management LLC acquired a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 77,639 shares of the company’s stock, valued at approximately $1,155,000. Intrinsic Edge Capital Management LLC owned approximately 0.54% of Direct Digital as of its most recent filing with the SEC. Institutional investors own 4.02% of the company’s stock.

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.