DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume – Here’s Why

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI – Get Free Report) shares saw unusually-high trading volume on Wednesday. 277,991 shares changed hands during trading, an increase of 149% from the previous session’s volume of 111,430 shares. The stock last traded at $13.6050 and had previously closed at $13.65.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. B. Riley Financial upped their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.33.

Get Our Latest Research Report on DoubleDown Interactive

DoubleDown Interactive Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. The company has a market capitalization of $675.42 million, a PE ratio of 5.41 and a beta of 1.05. The company’s 50-day simple moving average is $12.85 and its 200-day simple moving average is $11.55.

DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. The firm had revenue of $94.29 million during the quarter, compared to the consensus estimate of $92.90 million. As a group, sell-side analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

Large investors have recently modified their holdings of the stock. Aristides Capital LLC grew its holdings in DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after acquiring an additional 1,480 shares during the period. GAMMA Investing LLC raised its position in DoubleDown Interactive by 11.3% in the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company’s stock worth $200,000 after acquiring an additional 1,532 shares in the last quarter. Renaissance Technologies LLC raised its position in DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after acquiring an additional 19,256 shares in the last quarter. Finally, 683 Capital Management LLC lifted its holdings in DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the period.

About DoubleDown Interactive

(Get Free Report)

DoubleDown Interactive Co, Ltd. is a South Korea-based developer and publisher of social casino games for mobile devices and the web. Its games are designed to simulate casino experiences, including slot machines and other casino-style entertainment, while using virtual currency rather than offering real-money gambling.

The company’s principal title is DoubleDown Casino, a social casino game available through mobile applications and online platforms. DoubleDown Interactive also offers additional casino-themed games and content, including slot-focused experiences developed for players seeking casual, entertainment-oriented gameplay.

DoubleDown Interactive was established in 2010 and became part of South Korean gaming company DoubleU Games in 2017.

Further Reading

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