DoubleDown Interactive (NASDAQ:DDI) Sees Strong Trading Volume – Should You Buy?

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw strong trading volume on Monday . 37,926 shares traded hands during trading, an increase of 11% from the previous session’s volume of 34,070 shares.The stock last traded at $15.60 and had previously closed at $16.50.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. B. Riley raised their price target on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Northland Securities upped their target price on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wedbush raised their price target on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday.

DoubleDown Interactive Trading Down 4.7 %

The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. The stock has a market cap of $802.71 million, a P/E ratio of 7.04 and a beta of 0.88. The firm’s 50-day simple moving average is $14.42 and its 200 day simple moving average is $13.07.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business had revenue of $82.98 million for the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 15.07%. During the same period last year, the business posted $0.54 earnings per share. As a group, equities research analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC raised its holdings in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

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.