DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down – Should You Sell?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $14.49, but opened at $14.00. DoubleDown Interactive shares last traded at $14.28, with a volume of 11,408 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DDI shares. B. Riley lifted their target price on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wedbush boosted their price target on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, Northland Securities boosted their price target on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Price Performance

The company has a quick ratio of 18.68, a current ratio of 18.68 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $14.23 and its 200-day moving average price is $12.64. The stock has a market cap of $708.11 million, a P/E ratio of 6.74 and a beta of 0.85.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.19. The firm had revenue of $88.24 million during the quarter, compared to analysts’ expectations of $83.87 million. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. During the same period last year, the company earned $0.49 earnings per share. As a group, sell-side analysts expect that DoubleDown Interactive Co., Ltd. will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

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

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.