DoubleDown Interactive (NASDAQ:DDI) Sees Strong Trading Volume – What’s Next?

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw an uptick in trading volume on Monday . 27,352 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 36,063 shares.The stock last traded at $14.93 and had previously closed at $15.52.

Analysts Set New Price Targets

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

DoubleDown Interactive Price Performance

The company has a quick ratio of 21.25, a current ratio of 21.25 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $14.57 and a two-hundred day simple moving average of $13.25. The stock has a market capitalization of $730.41 million, a price-to-earnings ratio of 6.41 and a beta of 0.88.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $82.98 million for the quarter, compared to the consensus estimate of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, research analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of DoubleDown Interactive

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

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.