DoubleDown Interactive (NASDAQ:DDI) Trading Down 4.8% – Here’s Why

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price was down 4.8% during trading on Friday . The stock traded as low as $14.00 and last traded at $14.00. Approximately 50,680 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 36,306 shares. The stock had previously closed at $14.70.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. B. Riley lifted their price objective 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. Northland Securities lifted their price target on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Wedbush upped their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Price Performance

The stock’s 50-day moving average is $14.75 and its 200 day moving average is $13.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The company has a market cap of $693.70 million, a PE ratio of 6.09 and a beta of 0.88.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. The business had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. During the same period in the previous year, the business earned $0.54 EPS. On average, equities analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC boosted its stake in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 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.