DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Sees Significant Decrease in Short Interest

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 108,400 shares, a decrease of 7.7% from the August 31st total of 117,400 shares. Based on an average trading volume of 30,400 shares, the days-to-cover ratio is currently 3.6 days.

DoubleDown Interactive Stock Performance

DoubleDown Interactive stock traded down $0.80 on Tuesday, hitting $15.70. The company’s stock had a trading volume of 53,525 shares, compared to its average volume of 31,718. The company has a fifty day moving average price of $13.22 and a 200-day moving average price of $12.30. The firm has a market cap of $777.98 million, a P/E ratio of 7.30 and a beta of 0.83. DoubleDown Interactive has a one year low of $6.95 and a one year high of $16.75. The company has a quick ratio of 18.68, a current ratio of 18.68 and a debt-to-equity ratio of 0.05.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.19. The company had revenue of $88.24 million during the quarter, compared to analyst estimates of $83.87 million. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that DoubleDown Interactive will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC raised its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the 2nd 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 purchasing an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent reporting period.

Analyst Ratings Changes

Several analysts recently issued reports on DDI shares. 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. Wedbush lifted their price objective on DoubleDown Interactive from $14.75 to $16.25 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Northland Securities increased their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th.

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.