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

Direct Digital Holdings, Inc. (NASDAQ:DRCT) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 334,300 shares, a drop of 48.1% from the January 31st total of 644,200 shares. Based on an average daily trading volume, of 2,550,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 9.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Direct Digital stock. Citadel Advisors LLC acquired a new position in Direct Digital Holdings, Inc. (NASDAQ:DRCT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 44,202 shares of the company’s stock, valued at approximately $70,000. Citadel Advisors LLC owned about 0.30% of Direct Digital as of its most recent SEC filing. Institutional investors own 4.02% of the company’s stock.

Direct Digital Price Performance

Direct Digital stock traded down $0.06 during midday trading on Monday, reaching $0.89. The company’s stock had a trading volume of 177,623 shares, compared to its average volume of 1,449,156. The stock’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.95. Direct Digital has a 52-week low of $0.51 and a 52-week high of $35.88. The stock has a market capitalization of $13.05 million, a P/E ratio of -0.76 and a beta of 6.56.

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.