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

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw unusually-high trading volume on Thursday . Approximately 280,075 shares were traded during trading, an increase of 163% from the previous session’s volume of 106,488 shares.The stock last traded at $11.3190 and had previously closed at $11.00.

Wall Street Analyst Weigh In

Several brokerages have commented on DDI. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Wedbush dropped their target price on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Freedom Capital cut shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.50.

DoubleDown Interactive Stock Up 1.7%

The firm has a 50-day simple moving average of $11.04 and a 200 day simple moving average of $9.58. The company has a market cap of $554.51 million, a price-to-earnings ratio of 4.87 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.13. The business had revenue of $94.12 million during the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%. As a group, research analysts expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 EPS for the current year.

Institutional Trading of DoubleDown Interactive

A number of large investors have recently bought and sold shares of DDI. Osaic Holdings Inc. grew its position in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after purchasing an additional 2,397 shares during the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $93,000. Corient Private Wealth LLC acquired a new stake in shares of DoubleDown Interactive during the fourth quarter worth about $94,000. XTX Topco Ltd purchased a new position in shares of DoubleDown Interactive during the fourth quarter worth about $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in shares of DoubleDown Interactive during the fourth quarter worth about $173,000.

DoubleDown Interactive Company Profile

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.