DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Large Drop in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 9,532 shares, a decrease of 36.5% from the June 30th total of 15,007 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 60,161 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Several research analysts have issued reports on DDI shares. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wedbush reduced their price target on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.50.

Hedge Funds Weigh In On DoubleDown Interactive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Potomac Capital Management Inc. purchased a new position in shares of DoubleDown Interactive during the fourth quarter valued at about $683,000. 683 Capital Management LLC increased its holdings in shares of DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock worth $4,315,000 after purchasing an additional 200,000 shares during the last quarter. Whetstone Capital Advisors LLC purchased a new stake in shares of DoubleDown Interactive in the fourth quarter worth about $173,000. Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 19,256 shares in the last quarter. Finally, Aristides Capital LLC boosted its stake in DoubleDown Interactive by 15.5% during the first quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after buying an additional 5,297 shares during the last quarter.

DoubleDown Interactive Trading Down 0.2%

Shares of DDI opened at $11.58 on Friday. The business’s 50 day moving average is $11.51 and its 200 day moving average is $10.07. The company has a market capitalization of $573.79 million, a PE ratio of 5.03 and a beta of 1.02. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The company had revenue of $94.12 million for the quarter, compared to analysts’ expectations of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. Equities research analysts predict that DoubleDown Interactive will post 2.51 earnings per share for the current year.

DoubleDown Interactive Company Profile

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.