DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Update

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 5,680 shares, an increase of 74.1% from the November 30th total of 3,263 shares. Based on an average daily trading volume, of 21,994 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 21,994 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DDI. Ameriprise Financial Inc. increased its holdings in DoubleDown Interactive by 130.2% in the second quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock valued at $11,782,000 after buying an additional 696,366 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of DoubleDown Interactive during the second quarter worth about $5,759,000. 683 Capital Management LLC acquired a new position in DoubleDown Interactive in the 2nd quarter valued at $2,632,000. Stonehill Capital Management LLC lifted its position in DoubleDown Interactive by 49.1% in the third quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock valued at $1,780,000 after purchasing an additional 62,735 shares during the period. Finally, Millennium Management LLC lifted its holdings in DoubleDown Interactive by 100.2% in the third quarter. Millennium Management LLC now owns 116,677 shares of the company’s stock valued at $1,090,000 after acquiring an additional 58,395 shares during the period.

DoubleDown Interactive Price Performance

Shares of NASDAQ DDI traded up $0.27 during midday trading on Friday, hitting $8.59. The company’s stock had a trading volume of 42,309 shares, compared to its average volume of 77,200. The firm has a market capitalization of $425.63 million, a price-to-earnings ratio of 3.73 and a beta of 0.84. DoubleDown Interactive has a 1 year low of $8.09 and a 1 year high of $11.41. The business’s fifty day simple moving average is $8.95 and its two-hundred day simple moving average is $9.26.

DoubleDown Interactive (NASDAQ:DDI) last released its earnings results on Monday, November 10th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $95.85 million during the quarter, compared to analysts’ expectations of $94.28 million. DoubleDown Interactive had a return on equity of 12.92% and a net margin of 32.94%. Analysts anticipate that DoubleDown Interactive will post 2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DDI. Wedbush reiterated an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of DoubleDown Interactive in a research note on Wednesday, October 8th. Loop Capital set a $16.00 price objective on DoubleDown Interactive in a research report on Monday, November 3rd. Finally, Zacks Research cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.60.

DoubleDown Interactive Company Profile

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.