DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase – What’s Next?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares saw strong trading volume on Monday . 37,926 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 34,070 shares.The stock last traded at $15.60 and had previously closed at $16.50.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wedbush lifted their price target on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday. Northland Securities boosted their price objective on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, B. Riley raised their target price on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 13th.

DoubleDown Interactive Stock Down 4.7 %

The stock has a market cap of $802.71 million, a price-to-earnings ratio of 7.04 and a beta of 0.88. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $14.42 and its two-hundred day moving average is $13.07.

DoubleDown Interactive (NASDAQ:DDI) last released its earnings results on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The business had revenue of $82.98 million for the quarter, compared to analysts’ expectations of $83.49 million. DoubleDown Interactive had a return on equity of 15.07% and a net margin of 33.28%. During the same quarter last year, the company posted $0.54 earnings per share. On average, sell-side analysts predict that DoubleDown Interactive Co., Ltd. will post 2.35 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC increased its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent disclosure with the SEC. 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.

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.