Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Increases By 173.2%

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 26,040 shares, a growth of 173.2% from the July 15th total of 9,532 shares. Based on an average trading volume of 58,220 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. B. Riley Financial raised their price target on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush reduced their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.33.

Institutional Investors Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDI. Aristides Capital LLC boosted its position in DoubleDown Interactive by 4.5% during the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after purchasing an additional 1,480 shares during the period. Goldman Sachs Group Inc. raised its position in shares of DoubleDown Interactive by 2.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock valued at $694,000 after purchasing an additional 1,789 shares during the period. Osaic Holdings Inc. lifted its stake in shares of DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after buying an additional 2,397 shares during the last quarter. Four Tree Island Advisory LLC bought a new stake in shares of DoubleDown Interactive during the 4th quarter worth $93,000. Finally, Corient Private Wealth LLC acquired a new position in shares of DoubleDown Interactive during the 4th quarter worth about $94,000.

DoubleDown Interactive Trading Up 1.9%

Shares of NASDAQ:DDI opened at $12.48 on Friday. The stock has a market capitalization of $618.38 million, a PE ratio of 4.95 and a beta of 1.02. DoubleDown Interactive has a 1 year low of $8.10 and a 1 year high of $12.55. The firm has a fifty day moving average price of $11.56 and a 200 day moving average price of $10.28.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 13.13% and a net margin of 32.91%.The company had revenue of $94.29 million for the quarter, compared to analyst estimates of $92.90 million. On average, sell-side analysts forecast that DoubleDown Interactive will post 2.6 earnings per share for the current fiscal year.

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.