DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Down 36.5% in July

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 9,532 shares, a decrease of 36.5% from the June 30th total of 15,007 shares. Based on an average trading volume of 60,161 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wedbush cut their price target on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock 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. Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.50.

DoubleDown Interactive Price Performance

Shares of NASDAQ:DDI traded up $0.04 during trading on Thursday, reaching $11.60. 19,118 shares of the company were exchanged, compared to its average volume of 99,731. The business’s fifty day simple moving average is $11.53 and its 200-day simple moving average is $10.04. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $12.35. The firm has a market capitalization of $574.58 million, a PE ratio of 5.04 and a beta of 1.02.

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

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its stake in shares of DoubleDown Interactive by 338.6% during the second 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 during the period. Four Tree Island Advisory LLC purchased a new stake in DoubleDown Interactive in the fourth quarter worth about $93,000. Corient Private Wealth LLC bought a new position in DoubleDown Interactive during the 4th quarter worth about $94,000. GAMMA Investing LLC purchased a new position in DoubleDown Interactive during the 2nd quarter valued at about $155,000. Finally, XTX Topco Ltd bought a new stake in shares of DoubleDown Interactive in the 4th quarter valued at about $118,000.

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.