DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down – Here’s Why

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped down before the market opened on Wednesday . The stock had previously closed at $10.76, but opened at $10.53. DoubleDown Interactive shares last traded at $10.69, with a volume of 5,728 shares.

Analysts Set New Price Targets

DDI has been the subject of a number of research analyst reports. Wedbush increased their target price on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Northland Securities upped their price target on DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th.

DoubleDown Interactive Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25. The stock has a market capitalization of $522.75 million, a PE ratio of 4.59 and a beta of 0.95. The company’s fifty day simple moving average is $12.46 and its two-hundred day simple moving average is $13.15.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $82.98 million for the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, sell-side analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDI. JPMorgan Chase & Co. acquired a new position in shares of DoubleDown Interactive in the third quarter valued at approximately $81,000. Renaissance Technologies LLC grew its stake in DoubleDown Interactive by 81.6% in the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after acquiring an additional 18,200 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in DoubleDown Interactive in the 3rd quarter valued at $2,026,000.

DoubleDown Interactive Company Profile

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.