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

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 72,500 shares, a drop of 28.9% from the February 13th total of 102,000 shares. Based on an average daily trading volume, of 43,700 shares, the short-interest ratio is presently 1.7 days. Approximately 0.1% of the shares of the stock are short sold.

DoubleDown Interactive Price Performance

Shares of DDI traded up $0.15 during midday trading on Tuesday, reaching $10.31. The stock had a trading volume of 20,921 shares, compared to its average volume of 38,091. The company has a market capitalization of $510.89 million, a price-to-earnings ratio of 4.11 and a beta of 0.92. The company has a current ratio of 19.38, a quick ratio of 21.25 and a debt-to-equity ratio of 0.04. DoubleDown Interactive has a 12-month low of $8.56 and a 12-month high of $18.21. The company’s 50-day moving average is $10.17 and its 200 day moving average is $12.42.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DDI. Northland Securities cut their price objective on DoubleDown Interactive from $21.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. B. Riley started coverage on shares of DoubleDown Interactive in a research report on Tuesday, February 25th. They set a “buy” rating and a $23.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and issued a $21.00 price target on shares of DoubleDown Interactive in a report on Wednesday, February 12th.

Institutional Trading of DoubleDown Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of DDI. JPMorgan Chase & Co. purchased a new stake in DoubleDown Interactive during the third quarter valued at about $81,000. Heck Capital Advisors LLC purchased a new stake in DoubleDown Interactive during the 4th quarter valued at about $76,000. Trexquant Investment LP bought a new position in DoubleDown Interactive during the 4th quarter worth approximately $106,000. BNP Paribas Financial Markets purchased a new position in DoubleDown Interactive in the 4th quarter worth approximately $111,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of DoubleDown Interactive during the fourth quarter valued at approximately $153,000.

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.