DoubleDown Interactive (NASDAQ:DDI) Reaches New 1-Year High – What’s Next?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $13.14 and last traded at $13.03, with a volume of 72613 shares trading hands. The stock had previously closed at $12.76.

Analyst Ratings Changes

A number of brokerages have issued reports on DDI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. B. Riley Financial boosted their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wedbush cut their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.33.

DoubleDown Interactive Stock Up 1.7%

The stock has a market cap of $643.16 million, a price-to-earnings ratio of 5.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The firm’s 50-day moving average is $11.68 and its 200 day moving average is $10.42.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%.The business had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. Sell-side analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in DoubleDown Interactive during the 2nd quarter valued at $155,000. 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 valued at $619,000 after buying an additional 19,256 shares during the period. Aristides Capital LLC boosted its stake 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 in the last quarter. Corient Private Wealth LLC bought a new position in DoubleDown Interactive during the fourth quarter valued at about $94,000. Finally, XTX Topco Ltd acquired a new position in DoubleDown Interactive during the fourth quarter worth about $118,000.

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.