In the last trading session, 2.48 million shares of the Direct Digital Holdings Inc (NASDAQ:DRCT) were traded, and its beta was 6.65. Most recently the company’s share price was $2.52, and it changed around -$0.49 or -16.28% from the last close, which brings the market valuation of the company to $8.94M. DRCT currently trades at a discount to its 52-week high of $35.88, offering almost -1323.81% off that amount. The share price’s 52-week low was $0.51, which indicates that the current value has risen by an impressive 79.76% since then. We note from Direct Digital Holdings Inc’s average daily trading volume that its 10-day average is 10.14 million shares, with the 3-month average coming to 1.70 million.
Direct Digital Holdings Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended DRCT as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Direct Digital Holdings Inc is expected to report earnings per share of 0.11 for the current quarter.
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Direct Digital Holdings Inc (NASDAQ:DRCT) trade information
Instantly DRCT has showed a red trend with a performance of -16.28% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 6.59 on recent trading dayincreased the stock’s daily price by 61.76%. The company’s shares are currently down -83.06% year-to-date, but still up 330.03% over the last five days. On the other hand, Direct Digital Holdings Inc (NASDAQ:DRCT) is 96.88% up in the 30-day period. We can see from the shorts that 0.12 million shares have been sold at a short interest cover period of 0.86 day(s).
The consensus price target as assigned by Wall Street analysts is $8, which translates to bulls needing to increase their stock price by 68.5% from its current value. Analyst projections state that DRCT is forecast to be at a low of $8 and a high of $8.
Direct Digital Holdings Inc (DRCT) estimates and forecasts
Direct Digital Holdings Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -37.47 percent over the past six months and at a -1,373.33% annual growth rate that is well below the industry average of 19.80%. The year-over-year growth rate is expected to be -58.30%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 12.31M in revenue for the current quarter. 2 analysts expect Direct Digital Holdings Inc to make 14.17M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 41.01M and 22.27M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -69.98%. Forecasts for the next quarter put sales growth at -36.37%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -23.50%.
DRCT Dividends
Direct Digital Holdings Inc’s next quarterly earnings report is expected to be released in January.
Direct Digital Holdings Inc (NASDAQ:DRCT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 16.91% of Direct Digital Holdings Inc shares, and 7.51% of them are in the hands of institutional investors. The stock currently has a share float of 9.04%. Direct Digital Holdings Inc stock is held by 16.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 0.9651% of the shares, which is about 0.14 million shares worth $0.56 million.
AMERIPRISE FINANCIAL INC, with 0.2676% or 38260.0 shares worth $0.15 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
