DoubleDown Interactive (NASDAQ:DDI) Trading Down 5.1% – Here’s Why

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) were down 5.1% during trading on Monday . The stock traded as low as $10.23 and last traded at $10.23. Approximately 28,431 shares changed hands during trading, a decline of 25% from the average daily volume of 37,952 shares. The stock had previously closed at $10.78.

Wall Street Analyst Weigh In

DDI has been the topic of several recent research reports. Wedbush lifted their price target on shares of 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 lifted their target price on DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th.

DoubleDown Interactive Price Performance

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 cap of $525.26 million, a price-to-earnings ratio of 4.61 and a beta of 0.87. The stock’s fifty day moving average price is $13.89 and its 200-day moving average price is $13.37.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data 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 analysts’ expectations 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 company posted $0.54 earnings per share. Equities research analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

An institutional investor recently bought a new position in DoubleDown Interactive stock. Sanctuary Advisors LLC purchased a new position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 122,800 shares of the company’s stock, valued at approximately $2,026,000. Sanctuary Advisors LLC owned about 0.25% of DoubleDown Interactive as of its most recent SEC filing.

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.