DoubleDown Interactive (NASDAQ:DDI) Trading 3.9% Higher – Here’s Why

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was up 3.9% during trading on Monday . The stock traded as high as $10.10 and last traded at $10.13. Approximately 8,362 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 30,371 shares. The stock had previously closed at $9.75.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DDI shares. Northland Securities boosted their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wedbush upped their target price on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th.

DoubleDown Interactive Stock Up 5.3 %

The firm has a market cap of $508.63 million, a price-to-earnings ratio of 4.46 and a beta of 0.94. The firm has a fifty day simple moving average of $11.31 and a 200-day simple moving average of $12.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The firm had revenue of $82.98 million for the quarter, compared to the consensus estimate of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same period last year, the company posted $0.54 EPS. As a group, sell-side analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current year.

Institutional Trading of DoubleDown Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in DoubleDown Interactive during the 3rd quarter worth approximately $81,000. Heck Capital Advisors LLC purchased a new position in shares of DoubleDown Interactive during the fourth quarter valued at approximately $76,000. Renaissance Technologies LLC grew its holdings in DoubleDown Interactive by 81.6% during the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after buying an additional 18,200 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in DoubleDown Interactive in the 3rd quarter valued at $2,026,000.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.