Direct Digital Holdings Inc (NASDAQ:DRCT) Shares Rebounded 88.35% From Their Lows – But Can They Continue?

In last trading session, Direct Digital Holdings Inc (NASDAQ:DRCT) saw 0.51 million shares changing hands with its beta currently measuring 7.86. Company’s recent per share price level of $16.82 trading at $2.64 or 18.62% at ring of the bell on the day assigns it a market valuation of $240.02M. That closing price of DRCT’s stock is at a discount of -3.57% from its 52-week high price of $17.42 and is indicating a premium of 88.35% from its 52-week low price of $1.96. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.24 million shares which gives us an average trading volume of 998.02K if we extend that period to 3-months.

Direct Digital Holdings Inc (NASDAQ:DRCT) trade information

Upright in the green during last session for gaining 18.62%, in the last five days DRCT remained trading in the green while hitting it’s week-highest on Friday, 02/09/24 when the stock touched $16.82 price level, adding 0.41% to its value on the day. Direct Digital Holdings Inc’s shares saw a change of 13.04% in year-to-date performance and have moved 59.73% in past 5-day. Direct Digital Holdings Inc (NASDAQ:DRCT) showed a performance of 9.15% in past 30-days. Number of shares sold short was 0.42 million shares which calculate 0.9 days to cover the short interests.

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Direct Digital Holdings Inc (DRCT) estimates and forecasts

Statistics highlight that Direct Digital Holdings Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 544.44% of value to its shares in past 6 months, showing an annual growth rate of 194.12% while that of industry is -7.60. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 2,500.00% in the current quarter and calculating 122.20% increase in the next quarter. This year revenue growth is estimated to rise 106.80% from the last financial year’s standing.

3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $65.95 million for the same. And 3 analysts are in estimates of company making revenue of $42.54 million in the next quarter that will end on Mar 2024. Company posted $29.42 million and $21.22 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 124.10% while estimating it to be 100.40% for the next quarter.

DRCT Dividends

Direct Digital Holdings Inc is more likely to be releasing its next quarterly report in March and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Direct Digital Holdings Inc (NASDAQ:DRCT)’s Major holders

Insiders are in possession of 13.35% of company’s total shares while institution are holding 11.67 percent of that, with stock having share float percentage of 13.47%. Investors also watch the number of corporate investors in a company very closely, which is 11.67% institutions for Direct Digital Holdings Inc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at DRCT for having 0.12 million shares of worth $2.07 million. And as of Sep 29, 2023, it was holding 3.57% of the company’s outstanding shares.

The second largest institutional holder is Perritt Capital Management, Inc., which was holding about 52480.0 shares on Sep 29, 2023. The number of shares represents firm’s hold over 1.52% of outstanding shares, having a total worth of $0.88 million.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 90848.0 shares of worth $1.53 million or 2.63% of the total outstanding shares. The later fund manager was in possession of 32227.0 shares on Sep 29, 2023, making its stake of worth around $0.54 million in the company or a holder of 0.93% of company’s stock.

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