DoubleDown Interactive (NASDAQ:DDI) Trading Down 4.8% – Here’s Why

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price was down 4.8% during mid-day trading on Friday . The stock traded as low as $14.00 and last traded at $14.00. Approximately 50,680 shares changed hands during trading, an increase of 40% from the average daily volume of 36,306 shares. The stock had previously closed at $14.70.

Analyst Ratings Changes

A number of analysts recently commented on DDI shares. Wedbush lifted their price target on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Northland Securities boosted their target price on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, B. Riley boosted their target price on DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th.

DoubleDown Interactive Price Performance

The business has a fifty day moving average price of $14.74 and a 200-day moving average price of $13.40. 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 stock has a market capitalization of $693.70 million, a PE ratio of 6.39 and a beta of 0.88.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $82.98 million for 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 in the prior year, the company earned $0.54 earnings per share. Research analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current fiscal year.

Institutional Trading of DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC lifted its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

DoubleDown Interactive Company Profile

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.