DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Sees Large Decline in Short Interest

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 95,600 shares, a drop of 9.5% from the November 15th total of 105,600 shares. Based on an average trading volume of 52,800 shares, the days-to-cover ratio is presently 1.8 days.

Analysts Set New Price Targets

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

DoubleDown Interactive Price Performance

Shares of NASDAQ DDI opened at $11.26 on Friday. The stock has a market cap of $557.97 million, a P/E ratio of 4.90 and a beta of 0.87. DoubleDown Interactive has a twelve month low of $7.16 and a twelve month high of $18.21. The stock has a 50 day moving average of $14.34 and a two-hundred day moving average of $13.44. 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 released its quarterly 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). The business had revenue of $82.98 million during the quarter, compared to analysts’ expectations of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same quarter last year, the company earned $0.54 EPS. On average, research analysts forecast that DoubleDown Interactive will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC grew its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent quarter.

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.