DoubleDown Interactive (NASDAQ:DDI) Trading 3.8% Higher – Here’s What Happened

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price traded up 3.8% on Friday . The company traded as high as $16.60 and last traded at $16.40. 20,710 shares were traded during trading, a decline of 42% from the average session volume of 35,827 shares. The stock had previously closed at $15.80.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DDI. Wedbush boosted their price target on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities lifted their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, B. Riley upped their price target on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 18.68. The stock has a fifty day simple moving average of $14.57 and a two-hundred day simple moving average of $13.18. The firm has a market capitalization of $769.06 million, a P/E ratio of 6.75 and a beta of 0.88.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $82.98 million during the quarter, compared to the consensus estimate of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, research analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC boosted its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent 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.