DoubleDown Interactive (NASDAQ:DDI) Trading 4.5% Higher

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price shot up 4.5% during mid-day trading on Tuesday . The stock traded as high as $12.99 and last traded at $12.69. 4,198 shares changed hands during trading, a decline of 86% from the average session volume of 31,083 shares. The stock had previously closed at $12.14.

Analysts Set New Price Targets

Several research firms recently issued reports on DDI. Macquarie began coverage on shares of DoubleDown Interactive in a research report on Monday, May 20th. They set an “outperform” rating for the company. Wedbush lifted their price target on shares of DoubleDown Interactive from $13.50 to $14.75 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Finally, B. Riley started coverage on shares of DoubleDown Interactive in a research report on Thursday, June 6th. They set a “buy” rating and a $24.00 price target for the company.

DoubleDown Interactive Stock Down 1.5 %

The firm has a market capitalization of $629.29 million, a price-to-earnings ratio of 5.91 and a beta of 0.80. The business’s 50-day simple moving average is $12.00 and its two-hundred day simple moving average is $10.99.

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

Institutional Trading of DoubleDown Interactive

Institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. purchased a new stake in shares of DoubleDown Interactive during the 4th quarter worth approximately $82,000. Arbor Capital Management Inc. ADV purchased a new stake in shares of DoubleDown Interactive during the 4th quarter worth approximately $514,000. Finally, B. Riley Financial Inc. lifted its position in shares of DoubleDown Interactive by 2.4% during the 4th 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 last quarter.

About DoubleDown Interactive

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.