DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – Here’s What Happened

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $11.43, but opened at $12.07. DoubleDown Interactive shares last traded at $11.8640, with a volume of 39,724 shares changing hands.

Analysts Set New Price Targets

DDI has been the topic of several recent research reports. Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Wedbush lowered their target price on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, DoubleDown Interactive has an average rating of “Hold” and a consensus target price of $15.67.

DoubleDown Interactive Trading Up 6.1%

The firm’s 50-day moving average is $10.56 and its two-hundred day moving average is $9.43. The stock has a market cap of $601.08 million, a price-to-earnings ratio of 5.27 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The company had revenue of $94.12 million during the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. On average, analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Hedge funds have recently bought and sold shares of the business. Potomac Capital Management Inc. acquired a new stake in DoubleDown Interactive in the 4th quarter valued at about $683,000. BRC Group Holdings Inc. raised its holdings in DoubleDown Interactive by 0.8% in the 4th quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock valued at $30,010,000 after acquiring an additional 26,937 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of DoubleDown Interactive by 84.4% during the 4th quarter. SG Americas Securities LLC now owns 63,016 shares of the company’s stock worth $544,000 after buying an additional 28,850 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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. Finally, Quadrature Capital Ltd acquired a new stake in shares of DoubleDown Interactive during the 4th quarter worth approximately $180,000.

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.