DoubleDown Interactive (NASDAQ:DDI) Stock Price Up 8%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price rose 8% during mid-day trading on Monday . The company traded as high as $12.97 and last traded at $12.97. Approximately 2,429 shares were traded during trading, a decline of 92% from the average daily volume of 29,598 shares. The stock had previously closed at $12.01.

Analyst Upgrades and Downgrades

DDI has been the subject of a number of analyst reports. Macquarie initiated coverage on shares of DoubleDown Interactive in a research note on Monday, May 20th. They set an “outperform” rating for the company. B. Riley initiated coverage on shares of DoubleDown Interactive in a research note on Thursday, June 6th. They set a “buy” rating and a $24.00 target price for the company. Finally, Wedbush boosted their target price on shares of DoubleDown Interactive from $13.50 to $14.75 and gave the company an “outperform” rating in a research note on Thursday, May 9th.

DoubleDown Interactive Stock Performance

The business’s 50 day moving average price is $12.40 and its two-hundred day moving average price is $11.43. The company has a market capitalization of $594.60 million, a price-to-earnings ratio of 6.03 and a beta of 0.80.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. The company had revenue of $88.14 million during the quarter, compared to analyst estimates of $82.20 million. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. On average, sell-side analysts expect that DoubleDown Interactive Co., Ltd. will post 2.07 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Direct Indexing L.P. bought a new stake in shares of DoubleDown Interactive in the 4th quarter worth approximately $82,000. Arbor Capital Management Inc. ADV bought a new stake in shares of DoubleDown Interactive in the 4th quarter worth approximately $514,000. Finally, B. Riley Financial Inc. raised its holdings in shares of DoubleDown Interactive by 2.4% in the 4th quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after purchasing an additional 96,740 shares in the last quarter.

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.