DoubleDown Interactive (NASDAQ:DDI) Shares Up 5%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares shot up 5% during trading on Tuesday . The stock traded as high as $10.81 and last traded at $10.81. 7,690 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 30,993 shares. The stock had previously closed at $10.30.

Analysts Set New Price Targets

DDI has been the topic of several recent analyst reports. Wedbush lifted their target price on DoubleDown Interactive from $13.50 to $14.75 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Macquarie began coverage on shares of DoubleDown Interactive in a report on Monday, May 20th. They issued an “outperform” rating for the company. Finally, B. Riley initiated coverage on shares of DoubleDown Interactive in a research report on Thursday, June 6th. They issued a “buy” rating and a $24.00 target price for the company.

DoubleDown Interactive Trading Up 8.7 %

The firm has a 50-day moving average price of $11.56 and a 200-day moving average price of $10.69. The company has a market capitalization of $554.96 million, a price-to-earnings ratio of 5.10 and a beta of 0.78.

DoubleDown Interactive (NASDAQ:DDI) last released its earnings results on Wednesday, May 8th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.50 by $0.11. The business had revenue of $88.14 million during the quarter, compared to analyst estimates of $82.20 million. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. Equities research analysts predict that DoubleDown Interactive Co., Ltd. will post 2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of DDI. Arbor Capital Management Inc. ADV acquired a new position in DoubleDown Interactive in the 4th quarter worth approximately $514,000. B. Riley Financial Inc. boosted its position in shares of DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after buying an additional 96,740 shares during the period. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of DoubleDown Interactive during the fourth quarter valued at $82,000.

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.