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

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 9,532 shares, a decrease of 36.5% from the June 30th total of 15,007 shares. Based on an average trading volume of 60,161 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

DoubleDown Interactive Stock Down 0.2%

Shares of NASDAQ DDI traded down $0.02 during trading hours on Friday, hitting $11.58. The company had a trading volume of 54,328 shares, compared to its average volume of 99,613. DoubleDown Interactive has a 1-year low of $8.10 and a 1-year high of $12.35. The firm’s 50 day moving average is $11.52 and its 200-day moving average is $10.06. The stock has a market capitalization of $573.82 million, a P/E ratio of 5.03 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $94.12 million for the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. On average, sell-side analysts predict that DoubleDown Interactive will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On DoubleDown Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its stake in 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 bought a new stake in DoubleDown Interactive in the fourth quarter valued at approximately $93,000. Corient Private Wealth LLC bought a new stake in DoubleDown Interactive in the fourth quarter valued at approximately $94,000. XTX Topco Ltd acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at approximately $118,000. Finally, GAMMA Investing LLC bought a new position in shares of DoubleDown Interactive during the 2nd quarter worth approximately $155,000.

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.