DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume – Still a Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw unusually-strong trading volume on Wednesday . Approximately 155,493 shares traded hands during mid-day trading, an increase of 48% from the previous session’s volume of 105,178 shares.The stock last traded at $12.83 and had previously closed at $12.60.

Analyst Upgrades and Downgrades

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

DoubleDown Interactive Price Performance

The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03. The stock has a market cap of $636.22 million, a P/E ratio of 5.07 and a beta of 1.03. The business’s 50-day simple moving average is $12.15 and its two-hundred day simple moving average is $10.94.

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

Hedge Funds Weigh In On DoubleDown Interactive

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in DoubleDown Interactive in the 2nd quarter worth about $155,000. Whetstone Capital Advisors LLC bought a new stake in shares of DoubleDown Interactive during the fourth quarter valued at about $173,000. Aristides Capital LLC increased its position in shares of DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after buying an additional 1,480 shares during the period. 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 buying an additional 19,256 shares in the last quarter. Finally, Potomac Capital Management Inc. bought a new position in shares of DoubleDown Interactive in the fourth quarter valued at approximately $683,000.

DoubleDown Interactive Company Profile

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.