In the latest trading session, 0.78 million Direct Digital Holdings Inc (NASDAQ:DRCT) shares changed hands as the company’s beta touched 8.09. With the company’s most recent per share price at $14.85 changed hands at -$11.66 or -43.98% at last look, the market valuation stands at $211.91M. DRCT’s current price is a discount, trading about -141.62% off its 52-week high of $35.88. The share price had its 52-week low at $1.96, which suggests the last value was 86.8% up since then. When we look at Direct Digital Holdings Inc’s average trading volume, we note the 10-day average is 0.28 million shares, with the 3-month average coming to 264.27K.
Direct Digital Holdings Inc (NASDAQ:DRCT) trade information
Instantly DRCT was in red as seen in intraday trades today. With action -53.29%, the performance over the past five days has been red. The drop to weekly highs of 32.22 subtracted -43.98% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.20%, with the 5-day performance at -53.29% in the red. However, in the 30-day time frame, Direct Digital Holdings Inc (NASDAQ:DRCT) is -30.70% down. Looking at the short shares, we see there were 0.33 million shares sold at short interest cover period of 1.3 days.
Direct Digital Holdings Inc (DRCT) estimates and forecasts
Data shows that the Direct Digital Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 486.96% over the past 6 months, a 380.00% in annual growth rate that is considerably higher than the industry average of 12.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Direct Digital Holdings Inc will rise 122.20%, while the growth in revenue is estimated to hit 187.50% for the next quarter. Year-over-year growth is forecast to reach 54.40% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $42.54 million. 3 analysts are of the opinion that Direct Digital Holdings Inc’s revenue for the quarter ending Jun 2024 will be $58.68 million. The company’s revenue for the corresponding quarters a year ago was $21.22 million and $28.99 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 100.40%. The estimates for the next quarter sales put growth at 102.40%.
The 2024 estimates are for Direct Digital Holdings Inc earnings to increase by 323.08%.
DRCT Dividends
Direct Digital Holdings Inc is expected to release its next quarterly earnings report in April.
Direct Digital Holdings Inc (NASDAQ:DRCT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 14.93% of Direct Digital Holdings Inc shares while 19.20% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 22.57%. There are 19.20% institutions holding the Direct Digital Holdings Inc stock share, with Vanguard Group Inc the top institutional holder. As of Dec 30, 2023, the company held 3.96% of the shares, roughly 0.14 million DRCT shares worth $2.04 million.
Intrinsic Edge Capital Management LLC holds the second largest percentage of outstanding shares, with 2.25% or 77639.0 shares worth $1.16 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 90848.0 shares estimated at $1.36 million under it, the former controlled 2.63% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.32% of the shares, roughly 45658.0 shares worth around $0.68 million.
