DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Update

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 36,965 shares, a growth of 69.8% from the August 15th total of 21,764 shares. Based on an average daily volume of 108,356 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

DoubleDown Interactive Stock Performance

NASDAQ:DDI traded down $0.05 during mid-day trading on Wednesday, reaching $12.70. The company’s stock had a trading volume of 250,839 shares, compared to its average volume of 105,984. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03. The stock has a market cap of $629.43 million, a P/E ratio of 5.03 and a beta of 1.03. The firm’s fifty day moving average price is $12.15 and its two-hundred day moving average price is $10.94. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $13.28.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. The firm had revenue of $94.29 million during the quarter, compared to analyst estimates of $92.90 million. On average, equities analysts forecast that DoubleDown Interactive will post 2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC grew its position in shares of DoubleDown Interactive by 4.5% during the 4th quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after acquiring an additional 1,480 shares during the period. GAMMA Investing LLC bought a new position in DoubleDown Interactive in the 2nd quarter worth $155,000. Renaissance Technologies LLC lifted its position in DoubleDown Interactive by 35.7% during the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after purchasing an additional 19,256 shares in the last quarter. Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive during the fourth quarter valued at $173,000. Finally, BRC Group Holdings Inc. grew its holdings in DoubleDown Interactive by 0.8% during the fourth quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock valued at $30,010,000 after purchasing an additional 26,937 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DDI. B. Riley Financial lifted their target price on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two 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, the stock presently has an average rating of “Hold” and a consensus target price of $18.33.

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.