Short Interest in Direct Digital Holdings, Inc. (NASDAQ:DRCT) Expands By 6.0%

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a large increase in short interest in the month of 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 days-to-cover ratio is presently 0.6 days. Currently, 2.0% of the shares of the company are sold short.

Direct Digital Stock Performance

NASDAQ DRCT opened at $1.99 on Wednesday. The business’s fifty day moving average is $3.05 and its 200 day moving average is $6.03. Direct Digital has a fifty-two week low of $1.90 and a fifty-two week high of $35.88. The company has a market capitalization of $28.40 million, a PE ratio of 13.57 and a beta of 7.59.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direct Digital stock. Privium Fund Management UK Ltd bought a new position in shares of Direct Digital Holdings, Inc. (NASDAQ:DRCT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,925 shares of the company’s stock, valued at approximately $91,000. Privium Fund Management UK Ltd owned 0.15% of Direct Digital at the end of the most recent quarter. 4.02% of the stock is currently owned by hedge funds and other institutional investors.

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.