DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw unusually-strong trading volume on Monday . Approximately 11,323 shares were traded during trading, a decline of 62% from the previous session’s volume of 30,180 shares.The stock last traded at $14.29 and had previously closed at $14.10.

Analyst Upgrades and Downgrades

DDI has been the subject of several research reports. B. Riley boosted their price objective on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Macquarie initiated coverage on shares of DoubleDown Interactive in a research report on Monday, May 20th. They set an “outperform” rating for the company. Northland Securities raised their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, Wedbush lifted their target price on DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Price Performance

The stock’s 50-day simple moving average is $12.29 and its two-hundred day simple moving average is $12.02. The firm has a market capitalization of $727.44 million, a P/E ratio of 6.56 and a beta of 0.80.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results 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. DoubleDown Interactive had a return on equity of 15.00% and a net margin of 33.51%. The company had revenue of $88.24 million for the quarter, compared to the consensus estimate of $83.87 million. During the same quarter last year, the company earned $0.49 EPS. On average, analysts forecast that DoubleDown Interactive Co., Ltd. will post 2.07 earnings per share for the current fiscal year.

Institutional Trading of DoubleDown Interactive

Several hedge funds have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. bought a new stake in shares of DoubleDown Interactive in the fourth quarter worth about $82,000. Renaissance Technologies LLC boosted its stake in DoubleDown Interactive by 81.6% during the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after buying an additional 18,200 shares during the last quarter. Arbor Capital Management Inc. ADV purchased a new position in DoubleDown Interactive during the 4th quarter valued at approximately $514,000. Finally, B. Riley Financial Inc. increased its stake in 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 acquiring an additional 96,740 shares during 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.