DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Significant Growth in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 29,222 shares, an increase of 28.8% from the January 15th total of 22,681 shares. Based on an average daily volume of 53,659 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 53,659 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DDI. Wall Street Zen cut DoubleDown Interactive from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of DoubleDown Interactive in a research note on Wednesday, January 21st. Wedbush reiterated an “outperform” rating and set a $21.00 target price on shares of DoubleDown Interactive in a research report on Tuesday, November 11th. Finally, Loop Capital set a $16.00 price objective on shares of DoubleDown Interactive in a research note on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Hedge Funds Weigh In On DoubleDown Interactive

Several large investors have recently made changes to their positions in the company. Aristides Capital LLC increased its position in DoubleDown Interactive by 4.5% in the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after purchasing an additional 1,480 shares during the period. Goldman Sachs Group Inc. lifted its position in DoubleDown Interactive by 2.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock valued at $694,000 after purchasing an additional 1,789 shares during the period. Osaic Holdings Inc. boosted its stake 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 purchasing an additional 2,397 shares during the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of DoubleDown Interactive during the 4th quarter worth approximately $93,000. Finally, GSA Capital Partners LLP raised its stake in shares of DoubleDown Interactive by 54.5% during the third quarter. GSA Capital Partners LLP now owns 52,733 shares of the company’s stock worth $493,000 after buying an additional 18,602 shares during the last quarter.

DoubleDown Interactive Stock Up 0.7%

NASDAQ:DDI traded up $0.06 during mid-day trading on Monday, reaching $8.75. 110,005 shares of the company were exchanged, compared to its average volume of 69,803. DoubleDown Interactive has a 12 month low of $8.09 and a 12 month high of $11.25. The company has a fifty day moving average of $8.77 and a 200 day moving average of $9.06.

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

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.