DoubleDown Interactive (NASDAQ:DDI) Sees Strong Trading Volume – What’s Next?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw strong trading volume on Thursday . Approximately 280,075 shares changed hands during trading, an increase of 163% from the previous session’s volume of 106,488 shares.The stock last traded at $11.3190 and had previously closed at $11.00.

Analyst Ratings Changes

A number of brokerages have recently commented on DDI. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wedbush decreased their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.50.

DoubleDown Interactive Trading Up 1.5%

The company has a market capitalization of $567.35 million, a PE ratio of 4.98 and a beta of 1.02. The stock’s 50-day moving average is $11.14 and its two-hundred day moving average is $9.60.

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 during the quarter, compared to analyst estimates of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. On average, equities research analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of large investors have recently bought and sold shares of DDI. Aristides Capital LLC grew its position in DoubleDown Interactive by 4.5% in 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 last quarter. Goldman Sachs Group Inc. lifted its position in shares of DoubleDown Interactive by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock worth $694,000 after purchasing an additional 1,789 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of DoubleDown Interactive by 338.6% during the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after purchasing an additional 2,397 shares during the period. Four Tree Island Advisory LLC purchased a new stake in shares of DoubleDown Interactive during the fourth quarter valued at $93,000. Finally, Corient Private Wealth LLC bought a new position in shares of DoubleDown Interactive in the fourth quarter worth about $94,000.

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.