DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw an uptick in trading volume on Monday . 11,323 shares changed hands during mid-day trading, a decline of 62% from the previous session’s volume of 30,180 shares.The stock last traded at $14.29 and had previously closed at $14.10.

Wall Street Analyst Weigh In

DDI has been the subject of a number of analyst reports. B. Riley upped their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Northland Securities upped their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Wedbush lifted their price target on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, Macquarie began coverage on shares of DoubleDown Interactive in a research report on Monday, May 20th. They set an “outperform” rating for the company.

DoubleDown Interactive Stock Performance

The company has a 50 day simple moving average of $12.44 and a 200 day simple moving average of $12.10. The company has a market capitalization of $706.63 million, a PE ratio of 6.63 and a beta of 0.80.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a return on equity of 15.00% and a net margin of 33.51%. The firm had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, equities research analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.07 EPS for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of large investors have recently modified their holdings of DDI. First Trust Direct Indexing L.P. purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth about $82,000. B. Riley Financial Inc. lifted its stake in DoubleDown Interactive by 2.4% in the 4th quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after purchasing an additional 96,740 shares in the last quarter. Arbor Capital Management Inc. ADV acquired a new position in shares of DoubleDown Interactive during the 4th quarter worth approximately $514,000. Finally, Renaissance Technologies LLC grew its position in shares of DoubleDown Interactive by 81.6% in the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after purchasing an additional 18,200 shares in the last quarter.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.