DoubleDown Interactive (NASDAQ:DDI) Stock Price Up 5.6% – Here’s Why

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) rose 5.6% on Thursday . The company traded as high as $11.94 and last traded at $11.94. Approximately 9,302 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 36,861 shares. The stock had previously closed at $11.31.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Northland Securities upped their target price on DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wedbush boosted their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Trading Down 7.2 %

The business’s fifty day simple moving average is $14.34 and its two-hundred day simple moving average is $13.44. The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $557.93 million, a P/E ratio of 4.90 and a beta of 0.87.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The firm had revenue of $82.98 million for the quarter, compared to the consensus estimate of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, analysts forecast that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A hedge fund recently bought a new stake in DoubleDown Interactive stock. Sanctuary Advisors LLC acquired a new position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 122,800 shares of the company’s stock, valued at approximately $2,026,000. Sanctuary Advisors LLC owned about 0.25% of DoubleDown Interactive at the end of the most recent quarter.

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.