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

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 108,400 shares, a decrease of 7.7% from the August 31st total of 117,400 shares. Based on an average trading volume of 30,400 shares, the days-to-cover ratio is presently 3.6 days.

Analysts Set New Price Targets

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

DoubleDown Interactive Price Performance

Shares of DoubleDown Interactive stock traded down $0.80 during midday trading on Tuesday, hitting $15.70. 53,525 shares of the company traded hands, compared to its average volume of 31,718. The firm’s fifty day moving average price is $13.22 and its 200-day moving average price is $12.30. The stock has a market cap of $777.98 million, a price-to-earnings ratio of 7.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.68 and a current ratio of 18.68. DoubleDown Interactive has a 12 month low of $6.95 and a 12 month high of $16.75.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Monday, August 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.48 by $0.19. The business had revenue of $88.24 million for the quarter, compared to the consensus estimate of $83.87 million. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. During the same period last year, the company earned $0.49 EPS. As a group, sell-side analysts forecast that DoubleDown Interactive will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC raised its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the SEC.

About DoubleDown Interactive

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.