DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase – Here’s Why
by Sarita Garza · The Markets DailyDoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI – Get Free Report) saw unusually-strong trading volume on Wednesday. Approximately 277,991 shares changed hands during mid-day trading, an increase of 149% from the previous session’s volume of 111,430 shares. The stock last traded at $13.6050 and had previously closed at $13.65.
Analyst Ratings Changes
A number of analysts recently commented on DDI shares. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. B. Riley Financial upped their target price on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.33.
Get Our Latest Research Report on DDI
DoubleDown Interactive Stock Down 0.1%
The firm has a market cap of $675.42 million, a price-to-earnings ratio of 5.41 and a beta of 1.05. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $12.85 and a 200-day moving average price of $11.55.
DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $92.90 million. On average, equities analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of DDI. GAMMA Investing LLC purchased a new stake in DoubleDown Interactive in the 2nd quarter valued at approximately $155,000. Aristides Capital LLC increased its position in DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after buying an additional 1,480 shares in the last quarter. Renaissance Technologies LLC increased its position in 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 buying an additional 19,256 shares in the last quarter. Finally, 683 Capital Management LLC raised its holdings in shares of DoubleDown Interactive by 66.7% in 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 during the last quarter.
DoubleDown Interactive Company Profile
DoubleDown Interactive Co, Ltd. is a South Korea-based developer and publisher of social casino games for mobile devices and the web. Its games are designed to simulate casino experiences, including slot machines and other casino-style entertainment, while using virtual currency rather than offering real-money gambling.
The company’s principal title is DoubleDown Casino, a social casino game available through mobile applications and online platforms. DoubleDown Interactive also offers additional casino-themed games and content, including slot-focused experiences developed for players seeking casual, entertainment-oriented gameplay.
DoubleDown Interactive was established in 2010 and became part of South Korean gaming company DoubleU Games in 2017.