DoubleDown Interactive (NASDAQ:DDI) Stock Price Up 2.4% – Here’s Why

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price shot up 2.4% during mid-day trading on Thursday . The stock traded as high as $14.49 and last traded at $14.49. 1,355 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 32,124 shares. The stock had previously closed at $14.15.

Analysts Set New Price Targets

A number of equities analysts have commented on DDI shares. Northland Securities upped their target price on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Wedbush increased their price objective on DoubleDown Interactive from $14.75 to $16.25 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, B. Riley lifted their target price on DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Stock Up 1.2 %

The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. The firm has a market cap of $704.15 million, a PE ratio of 6.61 and a beta of 0.85. The business’s 50-day simple moving average is $13.68 and its 200 day simple moving average is $12.41.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.19. The company had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. During the same period last year, the company posted $0.49 earnings per share. As a group, equities research analysts expect that DoubleDown Interactive Co., Ltd. will post 2.35 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC raised its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,500 shares of the company’s stock after acquiring 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 & Exchange Commission.

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.