DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Large Decrease in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 21,946 shares, a decrease of 40.6% from the August 31st total of 36,965 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 154,320 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On DoubleDown Interactive

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in DoubleDown Interactive during the second quarter worth $155,000. Renaissance Technologies LLC lifted its stake in DoubleDown Interactive by 35.7% in the first 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 during the last quarter. Aristides Capital LLC grew its position in shares of DoubleDown Interactive by 15.5% in the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after acquiring an additional 5,297 shares during the period. 683 Capital Management LLC grew its position in shares of DoubleDown Interactive by 66.7% in the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the period. Finally, Whetstone Capital Advisors LLC acquired a new position in shares of DoubleDown Interactive during the 4th quarter worth about $173,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DDI. B. Riley Financial raised their price objective on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.33.

DoubleDown Interactive Price Performance

NASDAQ DDI opened at $13.13 on Wednesday. The firm’s 50 day moving average is $12.47 and its 200-day moving average is $11.21. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $650.59 million, a PE ratio of 5.21 and a beta of 1.03. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $13.28.

DoubleDown Interactive (NASDAQ:DDI) last announced its earnings results on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $94.29 million during the quarter, compared to analysts’ expectations of $92.90 million. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. Equities research analysts anticipate that DoubleDown Interactive will post 2.58 earnings per share for the current fiscal year.

About DoubleDown Interactive

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.