DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Short Interest Update

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 114,700 shares, an increase of 5.8% from the September 15th total of 108,400 shares. Based on an average trading volume of 35,400 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Investors Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC grew its stake in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 as of its most recent SEC filing.

DoubleDown Interactive Trading Up 0.1 %

Shares of NASDAQ DDI traded up $0.02 during midday trading on Thursday, hitting $14.90. The company’s stock had a trading volume of 21,632 shares, compared to its average volume of 32,569. The business’s 50 day moving average is $13.94 and its two-hundred day moving average is $12.51. DoubleDown Interactive has a 12-month low of $7.16 and a 12-month high of $16.75. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. The firm has a market cap of $738.34 million, a P/E ratio of 6.92 and a beta of 0.85.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings data on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.19. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. The company had revenue of $88.24 million during the quarter, compared to analysts’ expectations of $83.87 million. During the same period in the previous year, the company earned $0.49 EPS. As a group, equities research analysts expect that DoubleDown Interactive will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Northland Securities raised their target price on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. B. Riley lifted their price objective on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Wedbush increased their target price on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a research note on Tuesday, August 13th.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.