DoubleDown Interactive (NASDAQ:DDI) Trading Down 5.1% – Time to Sell?

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) were down 5.1% during trading on Monday . The company traded as low as $10.23 and last traded at $10.23. Approximately 28,431 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 37,952 shares. The stock had previously closed at $10.78.

Analysts Set New Price Targets

Several brokerages recently issued reports on DDI. Wedbush raised their price target on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Northland Securities raised their target price on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The stock has a fifty day moving average price of $13.89 and a two-hundred day moving average price of $13.37. The company has a market cap of $525.26 million, a P/E ratio of 4.61 and a beta of 0.87.

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

Institutional Trading of DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC increased its position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned 0.08% of DoubleDown Interactive worth $529,000 at the end of the most recent quarter.

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.