DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – Should You Buy?

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped up before the market opened on Wednesday . The stock had previously closed at $11.04, but opened at $11.28. DoubleDown Interactive shares last traded at $10.92, with a volume of 956 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Northland Securities lifted their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Wedbush boosted their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th.

DoubleDown Interactive Trading Down 2.4 %

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 50-day simple moving average of $13.04 and a 200 day simple moving average of $13.27. The firm has a market cap of $534.18 million, a PE ratio of 4.69 and a beta of 0.95.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results 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). The company had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same period in the prior year, the business posted $0.54 EPS. As a group, sell-side analysts forecast that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in DoubleDown Interactive in the 3rd quarter valued at $2,026,000. Renaissance Technologies LLC grew its holdings in shares of DoubleDown Interactive by 81.6% during the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after buying an additional 18,200 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of DoubleDown Interactive in the third quarter valued at about $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.