Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Rises By 69.8%

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 36,965 shares, an increase of 69.8% from the August 15th total of 21,764 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 108,356 shares, the short-interest ratio is presently 0.3 days.

DoubleDown Interactive Stock Performance

Shares of DDI traded up $0.04 during trading hours on Thursday, reaching $12.77. 11,400 shares of the company traded hands, compared to its average volume of 105,750. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average price of $12.18 and a 200-day moving average price of $10.96. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $13.28. The stock has a market capitalization of $632.51 million, a P/E ratio of 5.07 and a beta of 1.03.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $92.90 million. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. Equities analysts anticipate that DoubleDown Interactive will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DDI shares. B. Riley Financial upped their price target on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.33.

Institutional Trading of DoubleDown Interactive

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of DoubleDown Interactive during the second quarter worth $155,000. Whetstone Capital Advisors LLC purchased a new position in shares of DoubleDown Interactive during the 4th quarter valued at about $173,000. Aristides Capital LLC lifted its holdings in shares of DoubleDown Interactive by 4.5% in the 4th quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after buying an additional 1,480 shares during the period. Renaissance Technologies LLC boosted its stake in shares of DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock worth $619,000 after buying an additional 19,256 shares during the last quarter. Finally, Potomac Capital Management Inc. purchased a new position in DoubleDown Interactive during the fourth quarter valued at approximately $683,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.