DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Up 69.8% in August

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 36,965 shares, an increase of 69.8% from the August 15th total of 21,764 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 108,356 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DDI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a research note on Friday, August 7th. B. Riley Financial raised their target price on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.33.

DoubleDown Interactive Price Performance

Shares of NASDAQ DDI traded up $0.02 during midday trading on Friday, reaching $12.77. The company’s stock had a trading volume of 418,300 shares, compared to its average volume of 107,884. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. The company has a market cap of $632.69 million, a P/E ratio of 5.04 and a beta of 1.03. The business’s 50 day moving average price is $12.21 and its two-hundred day moving average price is $10.99. DoubleDown Interactive has a fifty-two week low of $8.10 and a fifty-two week high of $13.28.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. On average, analysts forecast that DoubleDown Interactive will post 2.58 EPS for the current fiscal year.

Institutional Trading of DoubleDown Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in DDI. BRC Group Holdings Inc. lifted its stake in DoubleDown Interactive by 0.8% during the fourth quarter. BRC Group Holdings Inc. now owns 3,477,440 shares of the company’s stock worth $30,010,000 after purchasing an additional 26,937 shares during the last quarter. 683 Capital Management LLC grew its position in DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the last quarter. Potomac Capital Management Inc. acquired a new position in DoubleDown Interactive during the fourth quarter worth about $683,000. Renaissance Technologies LLC lifted its holdings in shares of 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 acquiring an additional 19,256 shares during the last quarter. Finally, Aristides Capital LLC boosted its stake in shares of DoubleDown Interactive by 15.5% in the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after purchasing an additional 5,297 shares in the last quarter.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.