DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down – What’s Next?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price gapped down before the market opened on Friday . The stock had previously closed at $10.79, but opened at $10.52. DoubleDown Interactive shares last traded at $10.55, with a volume of 1,455 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wedbush increased 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 increased 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 3.3 %

The firm has a market cap of $516.84 million, a price-to-earnings ratio of 4.53 and a beta of 0.87. The firm’s 50-day moving average is $13.64 and its 200-day moving average is $13.32. The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $83.49 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, sell-side analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current fiscal year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of DoubleDown Interactive during the third quarter valued at approximately $2,026,000. Renaissance Technologies LLC raised its position in 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 buying an additional 18,200 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in DoubleDown Interactive during the 3rd quarter valued at $81,000.

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.