DoubleDown Interactive (NASDAQ:DDI) Reaches New 52-Week High – Still a Buy?

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) hit a new 52-week high on Friday . The company traded as high as $13.14 and last traded at $13.03, with a volume of 72613 shares. The stock had previously closed at $12.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DDI shares. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a report on Friday, August 7th. B. Riley Financial upped their price target on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Freedom Capital downgraded shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Wedbush decreased their price objective 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. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.33.

DoubleDown Interactive Stock Up 1.0%

The firm has a 50 day moving average of $11.70 and a two-hundred day moving average of $10.43. The stock has a market capitalization of $638.70 million, a PE ratio of 5.12 and a beta of 1.02. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03.

DoubleDown Interactive (NASDAQ:DDI) last posted its earnings results on Tuesday, August 11th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $94.29 million for the quarter, compared to the consensus estimate of $92.90 million. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. Equities research analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its stake 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 during the last quarter. Four Tree Island Advisory LLC acquired a new position in DoubleDown Interactive during the fourth quarter worth about $93,000. Corient Private Wealth LLC acquired a new position in DoubleDown Interactive during the fourth quarter worth about $94,000. XTX Topco Ltd purchased a new stake in shares of DoubleDown Interactive in the fourth quarter valued at about $118,000. Finally, GAMMA Investing LLC purchased a new stake in shares of DoubleDown Interactive in the second quarter valued at about $155,000.

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.