Direct Digital Holdings Inc (NASDAQ:DRCT) price on Thursday, December 26, fall -18.87% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.01.
A look at the stock’s price movement, the close in the last trading session was $3.71, moving within a range at $2.55 and $3.22. The beta value (5-Year monthly) was 7.441. Turning to its 52-week performance, $35.88 and $0.51 were the 52-week high and 52-week low respectively. Overall, DRCT moved 124.63% over the past month.
Direct Digital Holdings Inc’s market cap currently stands at around $12.76 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 12.31M for the company’s revenue for the quarter, with a low and high estimate of 9.31M and 14.5M respectively. The average forecast suggests down to a -69.98% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 65.52M, representing a -58.30% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that DRCT is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 1 recommend DRCT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
DRCT’s current price about 125.04% and 57.46% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.27, while 7-day volatility ratio is 193.82% and 58.56% in the 30-day chart. Further, Direct Digital Holdings Inc (DRCT) has a beta value of 6.59, and an average true range (ATR) of 0.73. Analysts have given the company’s stock an average 52-week price target of $8, forecast between a low of $8 and high of $8. Looking at the price targets, the low is -165.78% off current price level while to achieve the yearly target high, price needs to move -165.78%. Nonetheless, investors will most likely welcome a -165.78% jump to $8 which is the analysts’ median price.
If we refocus on Direct Digital Holdings Inc (NASDAQ:DRCT), historical trading data shows that trading volumes averaged 9.4 over the past 10 days and 1.59 million over the past 3 months. The company’s latest data on shares outstanding shows there are 3.80 million shares.
The 13.81% of Direct Digital Holdings Inc’s shares are in the hands of company insiders while institutional holders own 6.75% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.12 million on 2024-10-31, giving us a short ratio of 0.86. The data shows that as of 2024-10-31 short interest in Direct Digital Holdings Inc (DRCT) stood at 373.0 of shares outstanding, with shares short rising to 0.11 million registered in 2024-09-30. Current price change has pushed the stock -79.77% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DRCT stock continues to rise going into the next quarter.
