Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Grows By 109.7%

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 61,290 shares, an increase of 109.7% from the January 29th total of 29,222 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 91,221 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 91,221 shares, the short-interest ratio is currently 0.7 days. Currently, 0.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DDI. Weiss Ratings cut DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen lowered shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wedbush restated an “outperform” rating and set a $21.00 price target on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Finally, Loop Capital set a $16.00 price objective on shares of DoubleDown Interactive in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, DoubleDown Interactive currently has an average rating of “Hold” and an average target price of $18.75.

Hedge Funds Weigh In On DoubleDown Interactive

Institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP purchased a new stake in DoubleDown Interactive in the second quarter worth $5,759,000. 683 Capital Management LLC purchased a new position in shares of DoubleDown Interactive during the 2nd quarter valued at $2,632,000. Boston Partners lifted its position in shares of DoubleDown Interactive by 53.7% during the 2nd quarter. Boston Partners now owns 75,528 shares of the company’s stock valued at $723,000 after buying an additional 26,379 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of DoubleDown Interactive during the 4th quarter worth $180,000. Finally, XTX Topco Ltd purchased a new stake in DoubleDown Interactive in the 4th quarter worth about $118,000.

DoubleDown Interactive Price Performance

Shares of NASDAQ:DDI traded up $0.13 during midday trading on Friday, reaching $9.17. The company had a trading volume of 23,565 shares, compared to its average volume of 69,917. The company’s 50 day moving average price is $8.74 and its 200 day moving average price is $9.03. DoubleDown Interactive has a 52-week low of $8.09 and a 52-week high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). The company had revenue of $95.79 million during the quarter, compared to the consensus estimate of $99.61 million. DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%. On average, equities research analysts forecast 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.