DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase – Still a Buy?

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw strong trading volume on Wednesday . Approximately 155,493 shares were traded during 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

DDI has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a research note on Friday, August 7th. B. Riley Financial raised their price target on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock 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 issued a Hold rating to the company. According to MarketBeat, DoubleDown Interactive currently has a consensus rating of “Hold” and an average price target of $18.33.

DoubleDown Interactive Trading Up 0.2%

The business’s 50 day moving average price is $12.21 and its two-hundred day moving average price is $10.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. The company has a market capitalization of $631.76 million, a price-to-earnings ratio of 5.06 and a beta of 1.03.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $94.29 million during the quarter, compared to analyst estimates of $92.90 million. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. Equities analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of DoubleDown Interactive

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in DoubleDown Interactive in the 2nd quarter valued at approximately $155,000. Whetstone Capital Advisors LLC acquired a new stake in shares of DoubleDown Interactive during the 4th quarter valued at $173,000. Aristides Capital LLC boosted its stake in shares of DoubleDown Interactive by 4.5% during the 4th 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 grew its holdings in shares of DoubleDown Interactive by 35.7% during the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after acquiring an additional 19,256 shares in the last quarter. Finally, Potomac Capital Management Inc. purchased a new position in shares of DoubleDown Interactive during the 4th quarter valued at $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.