DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Sees Significant Decrease in Short Interest

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

DoubleDown Interactive Trading Down 4.1 %

Shares of DDI stock traded down $0.58 on Thursday, hitting $13.57. The stock had a trading volume of 19,673 shares, compared to its average volume of 32,829. The company’s 50 day moving average price is $14.27 and its 200-day moving average price is $12.78. DoubleDown Interactive has a 1 year low of $7.16 and a 1 year high of $16.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.68 and a quick ratio of 18.68. The firm has a market capitalization of $672.43 million, a P/E ratio of 5.82 and a beta of 0.85.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DDI shares. Wedbush boosted their target price 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. B. Riley upped their price objective on DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Northland Securities raised their target price on DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th.

Hedge Funds Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC increased its position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,500 shares of the company’s stock after buying an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 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.