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

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 53,896 shares, an increase of 456.9% from the April 30th total of 9,677 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 225,024 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On DoubleDown Interactive

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after purchasing an additional 19,256 shares during the period. 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 buying an additional 5,297 shares during the period. Corient Private Wealth LLC bought a new stake in shares of DoubleDown Interactive during the 4th quarter valued at $94,000. XTX Topco Ltd bought a new stake in shares of DoubleDown Interactive during the 4th quarter valued at $118,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of DoubleDown Interactive in the 4th quarter worth about $180,000.

DoubleDown Interactive Price Performance

Shares of NASDAQ DDI opened at $11.76 on Thursday. DoubleDown Interactive has a 1 year low of $8.09 and a 1 year high of $12.35. The company’s 50-day moving average is $9.89 and its 200 day moving average is $9.24. The stock has a market capitalization of $582.46 million, a P/E ratio of 5.11 and a beta of 1.01.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, topping 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 net margin of 30.77% and a return on equity of 12.16%. Research analysts anticipate that DoubleDown Interactive will post 2.51 earnings per share for the current year.

Analysts Set New Price Targets

DDI has been the topic of a number of research analyst reports. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wedbush cut their price objective on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings upgraded DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.67.

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.