DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw strong trading volume on Monday. 398,518 shares were traded during trading, an increase of 261% from the previous session’s volume of 110,537 shares. The stock last traded at $13.09 and had previously closed at $13.00.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DDI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. B. Riley Financial raised their target price on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.33.

DoubleDown Interactive Price Performance

The firm’s 50 day moving average price is $12.40 and its two-hundred day moving average price is $11.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The stock has a market cap of $648.61 million, a PE ratio of 5.19 and a beta of 1.03.

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

Hedge Funds Weigh In On DoubleDown Interactive

Large investors have recently made changes to their positions in the stock. Potomac Capital Management Inc. bought a new stake in shares of DoubleDown Interactive during the 4th quarter valued at $683,000. 683 Capital Management LLC boosted its stake in DoubleDown Interactive by 66.7% in the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock worth $4,315,000 after purchasing an additional 200,000 shares during the period. Whetstone Capital Advisors LLC bought a new position in DoubleDown Interactive in the 4th quarter worth about $173,000. Renaissance Technologies LLC grew its holdings in 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 buying an additional 19,256 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of DoubleDown Interactive during the second quarter valued at about $155,000.

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.