DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – What’s Next?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.04, but opened at $11.28. DoubleDown Interactive shares last traded at $10.92, with a volume of 956 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DDI shares. Northland Securities boosted their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wedbush lifted their target price on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Stock Down 2.4 %

The firm has a market cap of $534.18 million, a PE ratio of 4.69 and a beta of 0.95. The company’s 50-day simple moving average is $13.04 and its two-hundred day simple moving average is $13.27. The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in DoubleDown Interactive during the 3rd quarter valued at $2,026,000. Renaissance Technologies LLC boosted its stake in shares of DoubleDown Interactive by 81.6% during the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after purchasing an additional 18,200 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in DoubleDown Interactive during the 3rd quarter valued at about $81,000.

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.