Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Increases By 267.6%

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 20,882 shares, an increase of 267.6% from the December 15th total of 5,680 shares. Based on an average trading volume of 135,210 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 135,210 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

DDI has been the subject of several analyst reports. Loop Capital set a $16.00 price target on shares of DoubleDown Interactive in a research report on Monday, November 3rd. Wedbush reissued an “outperform” rating and set a $21.00 target price on shares of DoubleDown Interactive in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DoubleDown Interactive in a report on Wednesday, October 8th. Zacks Research downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.60.

Institutional Investors Weigh In On DoubleDown Interactive

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its holdings in DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after purchasing an additional 2,397 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of DoubleDown Interactive by 127.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after buying an additional 16,128 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of DoubleDown Interactive in the 3rd quarter valued at $319,000. Black Maple Capital Management LP purchased a new position in shares of DoubleDown Interactive in the 2nd quarter valued at $478,000. Finally, GSA Capital Partners LLP raised its stake in DoubleDown Interactive by 54.5% during the 3rd quarter. GSA Capital Partners LLP now owns 52,733 shares of the company’s stock worth $493,000 after acquiring an additional 18,602 shares in the last quarter.

DoubleDown Interactive Price Performance

Shares of DDI stock opened at $9.06 on Wednesday. DoubleDown Interactive has a 1 year low of $8.09 and a 1 year high of $11.25. The firm has a market capitalization of $450.19 million, a price-to-earnings ratio of 3.94 and a beta of 0.85. The business has a fifty day moving average of $8.93 and a 200 day moving average of $9.23.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The business had revenue of $95.85 million for the quarter, compared to analyst estimates of $94.28 million. DoubleDown Interactive had a net margin of 32.94% and a return on equity of 12.92%. As a group, equities research analysts expect that DoubleDown Interactive will post 2.28 earnings per share for the current year.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.