DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume – Still a Buy?

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw strong trading volume on Wednesday . 72,517 shares changed hands during trading, a decline of 8% from the previous session’s volume of 78,860 shares.The stock last traded at $10.7820 and had previously closed at $10.99.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings raised DoubleDown Interactive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.75.

DoubleDown Interactive Trading Down 0.1%

The company has a market cap of $539.60 million, a P/E ratio of 5.26 and a beta of 0.84. The firm has a 50 day moving average of $8.93 and a 200-day moving average of $8.89.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). The firm had revenue of $95.79 million for the quarter, compared to analysts’ expectations of $99.61 million. DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. Equities analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

Institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after buying an additional 2,397 shares in the last quarter. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive during the 4th quarter valued at approximately $93,000. Corient Private Wealth LLC purchased a new position in DoubleDown Interactive during the 4th quarter valued at approximately $94,000. XTX Topco Ltd purchased a new position in DoubleDown Interactive during the 4th quarter valued at approximately $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive during the 4th quarter valued at approximately $173,000.

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.