DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase – Here’s Why

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw unusually-high trading volume on Monday. Approximately 398,518 shares were traded during mid-day trading, an increase of 261% from the previous session’s volume of 110,537 shares. The stock last traded at $13.09 and had previously closed at $13.00.

Analyst Upgrades and Downgrades

DDI has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. B. Riley Financial increased their target price on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, DoubleDown Interactive presently has an average rating of “Moderate Buy” and an average price target of $18.33.

DoubleDown Interactive Price Performance

The stock has a market cap of $647.12 million, a PE ratio of 5.18 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. The business has a 50 day moving average price of $12.47 and a two-hundred day moving average price of $11.21.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $94.29 million during the quarter, compared to the consensus estimate of $92.90 million. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. Research analysts expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in DoubleDown Interactive during the second quarter valued at about $155,000. Renaissance Technologies LLC raised its position in DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after acquiring an additional 19,256 shares during the period. Aristides Capital LLC boosted its stake in DoubleDown Interactive by 15.5% in the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after acquiring an additional 5,297 shares during the last quarter. 683 Capital Management LLC boosted its stake in DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Whetstone Capital Advisors LLC bought a new position in shares of DoubleDown Interactive during the 4th quarter valued at approximately $173,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.