DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Up 456.9% in May

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 53,896 shares, an increase of 456.9% from the April 30th total of 9,677 shares. Based on an average daily trading volume, of 225,024 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms recently weighed in on DDI. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Wedbush dropped 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. Finally, Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.67.

DoubleDown Interactive Stock Performance

NASDAQ:DDI traded down $0.04 during mid-day trading on Friday, hitting $11.70. 166,855 shares of the stock were exchanged, compared to its average volume of 172,006. The stock has a market capitalization of $579.74 million, a price-to-earnings ratio of 5.09 and a beta of 1.01. The firm’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $9.27. DoubleDown Interactive has a fifty-two week low of $8.09 and a fifty-two week high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.13. The business had revenue of $94.12 million during the quarter, compared to analysts’ expectations of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. On average, analysts predict that DoubleDown Interactive will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

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