DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Up 173.2% in July

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 26,040 shares, an increase of 173.2% from the July 15th total of 9,532 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 58,220 shares, the short-interest ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DDI shares. Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research note on Friday, August 7th. B. Riley Financial upped their price objective on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wedbush cut their target price on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.33.

DoubleDown Interactive Trading Up 3.5%

DDI traded up $0.44 on Friday, reaching $12.92. 149,985 shares of the company’s stock were exchanged, compared to its average volume of 89,842. DoubleDown Interactive has a twelve month low of $8.10 and a twelve month high of $13.05. The company’s 50 day moving average is $11.59 and its 200-day moving average is $10.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.20 and a current ratio of 18.67. The company has a market cap of $640.19 million, a price-to-earnings ratio of 5.13 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. The firm had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $92.90 million. Equities analysts predict that DoubleDown Interactive will post 2.58 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in DDI. Osaic Holdings Inc. boosted 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 period. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive in the fourth quarter valued at about $93,000. Corient Private Wealth LLC acquired a new position in shares of DoubleDown Interactive during the fourth quarter worth about $94,000. GAMMA Investing LLC acquired a new position in shares of DoubleDown Interactive during the second quarter worth about $155,000. Finally, XTX Topco Ltd purchased a new stake in shares of DoubleDown Interactive in the fourth quarter worth 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.