DoubleDown Interactive (NASDAQ:DDI) Sets New 52-Week High – Should You Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) reached a new 52-week high on Thursday . The company traded as high as $12.35 and last traded at $12.1250, with a volume of 9123 shares trading hands. The stock had previously closed at $12.14.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wedbush lowered their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, DoubleDown Interactive has a consensus rating of “Hold” and a consensus target price of $15.67.

DoubleDown Interactive Stock Up 0.5%

The stock has a market cap of $604.51 million, a PE ratio of 5.30 and a beta of 1.01. The company has a fifty day moving average price of $9.57 and a 200 day moving average price of $9.12.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%.The company had revenue of $94.12 million for the quarter, compared to the consensus estimate of $94.26 million. As a group, research analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DDI. Osaic Holdings Inc. increased its holdings in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after purchasing an additional 2,397 shares during the period. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive during the 4th quarter valued at about $93,000. Corient Private Wealth LLC purchased a new position in DoubleDown Interactive during the 4th quarter valued at about $94,000. XTX Topco Ltd bought a new stake in DoubleDown Interactive during the 4th quarter valued at approximately $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in shares of DoubleDown Interactive during the 4th quarter worth approximately $173,000.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.