DoubleDown Interactive (NASDAQ:DDI) Trading 3.9% Higher – Here’s What Happened

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares were up 3.9% on Monday . The stock traded as high as $10.10 and last traded at $10.13. Approximately 8,362 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 30,371 shares. The stock had previously closed at $9.75.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wedbush boosted their target price on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Northland Securities boosted 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 Stock Up 5.3 %

The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05. The company has a market cap of $508.63 million, a P/E ratio of 4.46 and a beta of 0.94. The firm’s 50 day moving average price is $11.31 and its 200-day moving average price is $12.97.

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

Institutional Trading of DoubleDown Interactive

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of DoubleDown Interactive during the third quarter worth $2,026,000. Renaissance Technologies LLC raised its stake in shares of DoubleDown Interactive by 81.6% in the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after purchasing an additional 18,200 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of DoubleDown Interactive in the fourth quarter valued at about $76,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of DoubleDown Interactive during the third quarter worth about $81,000.

DoubleDown Interactive Company Profile

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.