DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase – Here’s Why

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) shares saw an uptick in trading volume on Wednesday . 155,493 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 105,178 shares.The stock last traded at $12.83 and had previously closed at $12.60.

Analyst Ratings Changes

A number of analysts have weighed in on DDI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.33.

DoubleDown Interactive Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The firm has a market capitalization of $636.22 million, a price-to-earnings ratio of 5.07 and a beta of 1.03. The business’s fifty day simple moving average is $12.15 and its 200 day simple moving average is $10.94.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. The firm had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. On average, research analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Large investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in DoubleDown Interactive during the second quarter worth $155,000. Renaissance Technologies LLC increased its position in shares of DoubleDown Interactive by 35.7% during 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. Aristides Capital LLC increased its position in shares of DoubleDown Interactive by 15.5% during the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock worth $334,000 after acquiring an additional 5,297 shares in the last quarter. 683 Capital Management LLC increased its position in shares of DoubleDown Interactive by 66.7% during the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock worth $4,315,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Whetstone Capital Advisors LLC acquired a new stake in shares of DoubleDown Interactive in the 4th quarter worth about $173,000.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.