Direct Digital (NASDAQ:DRCT) Shares Up 3.4% – Time to Buy?

Direct Digital Holdings, Inc. (NASDAQ:DRCT) shot up 3.4% on Tuesday . The company traded as high as $2.80 and last traded at $2.70. 111,248 shares traded hands during trading, a decline of 54% from the average session volume of 240,937 shares. The stock had previously closed at $2.61.

Direct Digital Stock Up 3.4 %

The business has a fifty day simple moving average of $2.68 and a two-hundred day simple moving average of $3.90. The company has a market capitalization of $38.53 million, a price-to-earnings ratio of 19.29 and a beta of 7.52.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Direct Digital stock. Privium Fund Management UK Ltd bought a new position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned approximately 0.15% of Direct Digital at the end of the most recent reporting period. Institutional investors and hedge funds 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.