DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Up 109.7% in February

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 61,290 shares, a growth of 109.7% from the January 29th total of 29,222 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 91,221 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 91,221 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the shares of the company are short sold.

DoubleDown Interactive Stock Performance

DoubleDown Interactive stock traded up $0.13 during midday trading on Friday, reaching $9.17. 23,565 shares of the stock were exchanged, compared to its average volume of 69,917. DoubleDown Interactive has a 52 week low of $8.09 and a 52 week high of $11.25. The company’s fifty day moving average is $8.74 and its 200-day moving average is $9.03.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). The firm had revenue of $95.79 million for the quarter, compared to analysts’ expectations of $99.61 million. DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. As a group, analysts expect that DoubleDown Interactive will post 2.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen cut shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Wedbush reaffirmed an “outperform” rating and issued a $21.00 price target on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Finally, Loop Capital set a $16.00 price target on DoubleDown Interactive in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DoubleDown Interactive presently has an average rating of “Hold” and a consensus target price of $18.75.

Hedge Funds Weigh In On DoubleDown Interactive

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its holdings in shares of DoubleDown Interactive by 338.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares in the last quarter. Four Tree Island Advisory LLC bought a new position in shares of DoubleDown Interactive in the fourth quarter worth approximately $93,000. Corient Private Wealth LLC bought a new position in shares of DoubleDown Interactive in the fourth quarter worth approximately $94,000. XTX Topco Ltd purchased a new stake in DoubleDown Interactive in the fourth quarter valued at approximately $118,000. Finally, Whetstone Capital Advisors LLC bought a new stake in DoubleDown Interactive during the fourth quarter valued at approximately $173,000.

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.