Short Interest in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Expands By 5.8%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the target of a significant increase in short interest in 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 currently 3.2 days.

Analysts Set New Price Targets

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

DoubleDown Interactive Stock Performance

NASDAQ DDI traded up $0.02 during trading hours on Thursday, reaching $14.90. 21,632 shares of the company were exchanged, compared to its average volume of 32,569. The stock has a market capitalization of $738.34 million, a P/E ratio of 6.93 and a beta of 0.85. The company has a quick ratio of 18.68, a current ratio of 18.68 and a debt-to-equity ratio of 0.05. DoubleDown Interactive has a 1 year low of $7.16 and a 1 year high of $16.75. The business’s 50 day simple moving average is $13.94 and its 200-day simple moving average is $12.51.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $83.87 million. During the same quarter last year, the business posted $0.49 EPS. On average, equities research analysts expect that DoubleDown Interactive will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

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

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.