Short Interest in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Declines By 9.5%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 95,600 shares, a decrease of 9.5% from the November 15th total of 105,600 shares. Based on an average trading volume of 52,800 shares, the short-interest ratio is currently 1.8 days.

Institutional Investors Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC raised its holdings in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

DDI has been the topic of a number of research analyst reports. Wedbush upped their target price on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Northland Securities lifted their price objective on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

DoubleDown Interactive Trading Down 2.1 %

Shares of DDI traded down $0.24 during trading hours on Tuesday, hitting $11.19. 21,192 shares of the stock were exchanged, compared to its average volume of 37,863. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The firm has a market capitalization of $554.50 million, a P/E ratio of 4.93 and a beta of 0.87. The business has a 50-day moving average of $14.26 and a 200-day moving average of $13.45. DoubleDown Interactive has a fifty-two week low of $7.16 and a fifty-two week high of $18.21.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The business had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same period in the previous year, the business posted $0.54 EPS. On average, research analysts expect that DoubleDown Interactive will post 2.38 EPS for the current year.

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.