Short Interest in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Decreases By 28.9%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 72,500 shares, a decrease of 28.9% from the February 13th total of 102,000 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 43,700 shares, the days-to-cover ratio is presently 1.7 days.

DoubleDown Interactive Stock Up 1.5 %

Shares of DoubleDown Interactive stock traded up $0.15 during trading hours on Tuesday, reaching $10.31. The company’s stock had a trading volume of 20,921 shares, compared to its average volume of 38,091. The company has a debt-to-equity ratio of 0.04, a quick ratio of 21.25 and a current ratio of 19.38. The stock’s fifty day simple moving average is $10.17 and its two-hundred day simple moving average is $12.42. The company has a market capitalization of $510.89 million, a P/E ratio of 4.11 and a beta of 0.92. DoubleDown Interactive has a one year low of $8.56 and a one year high of $18.21.

Institutional Investors Weigh In On DoubleDown Interactive

Institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Financial Inc. increased its position in shares of DoubleDown Interactive by 3.8% during the fourth quarter. B. Riley Financial Inc. now owns 4,186,412 shares of the company’s stock valued at $43,706,000 after acquiring an additional 154,087 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of DoubleDown Interactive during the 3rd quarter valued at approximately $2,026,000. Walleye Capital LLC purchased a new position in DoubleDown Interactive in the fourth quarter valued at approximately $588,000. Ameriprise Financial Inc. raised its stake in shares of DoubleDown Interactive by 10.3% in the fourth quarter. Ameriprise Financial Inc. now owns 517,341 shares of the company’s stock valued at $5,401,000 after buying an additional 48,244 shares during the period. Finally, Boston Partners purchased a new position in shares of DoubleDown Interactive during the 4th quarter valued at $354,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DDI. B. Riley initiated coverage on DoubleDown Interactive in a report on Tuesday, February 25th. They issued a “buy” rating and a $23.00 target price for the company. Northland Securities lowered their price objective on shares of DoubleDown Interactive from $21.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $21.00 price target on shares of DoubleDown Interactive in a report on Wednesday, February 12th.

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.