Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Grows By 456.9%
by Renee Jackson · The Cerbat GemDoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI – Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 53,896 shares, a growth of 456.9% from the April 30th total of 9,677 shares. Based on an average daily volume of 225,024 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.
Institutional Investors Weigh In On DoubleDown Interactive
Several large investors have recently made changes to their positions in the business. Aristides Capital LLC grew its holdings in DoubleDown Interactive by 4.5% during the 4th quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after purchasing an additional 1,480 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in DoubleDown Interactive by 2.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock valued at $694,000 after purchasing an additional 1,789 shares in the last quarter. Osaic Holdings Inc. grew its holdings in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after purchasing an additional 2,397 shares in the last quarter. Four Tree Island Advisory LLC acquired a new stake in DoubleDown Interactive during the 4th quarter valued at $93,000. Finally, Corient Private Wealth LLC acquired a new stake in DoubleDown Interactive during the 4th quarter valued at $94,000.
Wall Street Analyst Weigh In
Several brokerages recently commented on DDI. Wedbush dropped their price target on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, DoubleDown Interactive presently has an average rating of “Hold” and an average price target of $15.67.
View Our Latest Analysis on DDI
DoubleDown Interactive Stock Down 0.3%
Shares of DoubleDown Interactive stock traded down $0.04 during trading hours on Friday, hitting $11.70. The company’s stock had a trading volume of 166,855 shares, compared to its average volume of 172,006. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $12.35. The business has a fifty day moving average of $10.01 and a 200 day moving average of $9.27. The company has a market capitalization of $579.74 million, a PE ratio of 5.09 and a beta of 1.01.
DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.13. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. The company had revenue of $94.12 million during the quarter, compared to analyst estimates of $94.26 million. On average, sell-side analysts anticipate that DoubleDown Interactive will post 2.51 earnings per share for the current fiscal year.
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.