DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Short Interest Down 7.8% in October

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 105,700 shares, a drop of 7.8% from the September 30th total of 114,700 shares. Based on an average daily volume of 39,500 shares, the short-interest ratio is currently 2.7 days.

Analysts Set New Price Targets

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

Institutional Trading of DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC boosted its position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,500 shares of the company’s stock after buying 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 quarter.

DoubleDown Interactive Stock Performance

NASDAQ DDI traded down $0.58 during trading hours on Thursday, reaching $13.57. The stock had a trading volume of 19,673 shares, compared to its average volume of 32,829. DoubleDown Interactive has a 52-week low of $7.16 and a 52-week high of $16.75. The stock has a fifty day moving average of $14.27 and a 200 day moving average of $12.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.68 and a current ratio of 18.68. The stock has a market cap of $672.43 million, a P/E ratio of 5.82 and a beta of 0.85.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.48 by $0.19. The company had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. DoubleDown Interactive had a net margin of 34.85% and a return on equity of 15.62%. During the same period in the prior year, the company earned $0.49 earnings per share. Sell-side analysts predict that DoubleDown Interactive will post 2.35 earnings per share for the current year.

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.