DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – What’s Next?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $11.00, but opened at $11.35. DoubleDown Interactive shares last traded at $11.4830, with a volume of 2,668 shares traded.

Wall Street Analyst Weigh In

DDI has been the subject of a number of research reports. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Wedbush decreased their target price on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings upgraded DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, DoubleDown Interactive currently has a consensus rating of “Hold” and an average target price of $15.50.

DoubleDown Interactive Stock Up 1.7%

The business’s 50 day moving average is $11.09 and its 200 day moving average is $9.59. The company has a market cap of $568.34 million, a P/E ratio of 4.99 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.13. The business 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%. As a group, equities research analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of large investors have recently added to or reduced their stakes in DDI. Renaissance Technologies LLC boosted its holdings in shares of DoubleDown Interactive by 35.7% in the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after buying an additional 19,256 shares in the last quarter. Aristides Capital LLC lifted its position 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 acquiring an additional 5,297 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in DoubleDown Interactive in the fourth quarter valued at approximately $94,000. XTX Topco Ltd acquired a new stake in DoubleDown Interactive in the fourth quarter valued at approximately $118,000. Finally, Quadrature Capital Ltd purchased a new position in DoubleDown Interactive in the fourth quarter worth $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.