DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Significant Growth in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 29,222 shares, a growth of 28.8% from the January 15th total of 22,681 shares. Based on an average daily trading volume, of 53,659 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 53,659 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on DDI. Wall Street Zen cut DoubleDown Interactive from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of DoubleDown Interactive in a research note on Wednesday, January 21st. Wedbush reiterated an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Finally, Loop Capital set a $16.00 price target on shares of DoubleDown Interactive in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, DoubleDown Interactive has a consensus rating of “Moderate Buy” and a consensus price target of $18.75.

DoubleDown Interactive Price Performance

NASDAQ:DDI traded up $0.06 during trading hours on Monday, hitting $8.75. 110,005 shares of the company traded hands, compared to its average volume of 69,803. DoubleDown Interactive has a twelve month low of $8.09 and a twelve month high of $11.25. The firm has a 50-day moving average of $8.77 and a 200 day moving average of $9.06.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). The company had revenue of $95.79 million for the quarter, compared to the consensus estimate of $99.61 million. DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%. Analysts anticipate that DoubleDown Interactive will post 2.28 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

A number of hedge funds have recently modified their holdings of DDI. Hudson Bay Capital Management LP bought a new stake in DoubleDown Interactive in the 2nd quarter valued at $5,759,000. 683 Capital Management LLC bought a new position in shares of DoubleDown Interactive during the 2nd quarter worth about $2,632,000. Boston Partners lifted its holdings in shares of DoubleDown Interactive by 53.7% during the 2nd quarter. Boston Partners now owns 75,528 shares of the company’s stock worth $723,000 after acquiring an additional 26,379 shares during the period. Black Maple Capital Management LP acquired a new stake in shares of DoubleDown Interactive during the 2nd quarter valued at about $478,000. Finally, Goldman Sachs Group Inc. increased its stake in DoubleDown Interactive by 127.4% in the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after acquiring an additional 16,128 shares during the period.

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.