DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Sees Large Decrease in Short Interest

by · The Markets Daily

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI – Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 105,700 shares, a drop of 7.8% from the September 30th total of 114,700 shares. Based on an average daily volume of 39,500 shares, the days-to-cover ratio is presently 2.7 days.

DoubleDown Interactive Stock Performance

NASDAQ DDI traded down $0.58 during trading hours on Thursday, reaching $13.57. The company’s stock had a trading volume of 19,673 shares, compared to its average volume of 32,829. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $14.27 and a 200 day simple moving average of $12.78. DoubleDown Interactive has a 52 week low of $7.16 and a 52 week high of $16.75. The stock has a market cap of $672.43 million, a PE ratio of 6.07 and a beta of 0.85.

DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last posted its earnings results on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. The company had revenue of $88.24 million for the quarter, compared to analysts’ expectations of $83.87 million. DoubleDown Interactive had a return on equity of 15.62% and a net margin of 34.85%. During the same period last year, the business posted $0.49 earnings per share. Equities research analysts predict that DoubleDown Interactive will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DDI has been the subject of a number of recent analyst reports. Northland Securities raised their price target on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. B. Riley lifted their target price on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Wedbush increased their price target on DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a report on Tuesday, August 13th.

Check Out Our Latest Analysis on DoubleDown Interactive

Institutional Investors Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC lifted its stake in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI – Free Report) by 81.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent reporting period.

DoubleDown Interactive Company Profile

(Get Free Report)

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.

See Also