DoubleDown Interactive (NASDAQ:DDI) Reaches New 12-Month High – What’s Next?
by Mitch Edgeman · The Markets DailyDoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI – Get Free Report) reached a new 52-week high on Tuesday. The company traded as high as $13.53 and last traded at $13.24, with a volume of 143818 shares trading hands. The stock had previously closed at $13.31.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. B. Riley Financial upped their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.33.
Get Our Latest Analysis on DDI
DoubleDown Interactive Stock Performance
The business’s 50-day simple moving average is $12.69 and its two-hundred day simple moving average is $11.41. The firm has a market cap of $669.42 million, a price-to-earnings ratio of 5.36 and a beta of 1.05. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03.
DoubleDown Interactive (NASDAQ:DDI – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. As a group, sell-side analysts expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current fiscal year.
Institutional Trading of DoubleDown Interactive
Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of DoubleDown Interactive in the second quarter valued at approximately $155,000. Renaissance Technologies LLC raised its stake in shares of DoubleDown Interactive by 35.7% during the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after buying an additional 19,256 shares during the period. Aristides Capital LLC lifted its position in shares of DoubleDown Interactive by 15.5% during the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after buying an additional 5,297 shares in the last quarter. 683 Capital Management LLC lifted its position in shares of DoubleDown Interactive by 66.7% during the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after buying an additional 200,000 shares in the last quarter. Finally, Whetstone Capital Advisors LLC acquired a new stake in DoubleDown Interactive in the 4th quarter valued at $173,000.
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.