DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Large Decline in Short Interest

Key Points

• Short interest in DoubleDown Interactive fell sharply in June, dropping 40.4% to 15,007 shares as of June 30, with only 0.0% of shares short and a very low short-interest ratio of 0.1 days.
• Analyst sentiment remains mixed but cautious: recent moves included downgrades and a lower price target from Wedbush, while Wall Street Zen upgraded the stock. The current consensus rating is Hold with a target price of $15.50.
• The stock traded up 1.3% to $11.43 and the company recently reported earnings of $0.71 per share, topping expectations, while revenue came in slightly below estimates.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 15,007 shares, a drop of 40.4% from the June 15th total of 25,187 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 121,675 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Freedom Capital lowered shares of DoubleDown Interactive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Wedbush lowered their price target on shares of DoubleDown Interactive from $21.00 to $15.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings raised shares of DoubleDown Interactive from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of DoubleDown Interactive from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $15.50.

Hedge Funds Weigh In On DoubleDown Interactive

Several large investors have recently modified their holdings of DDI. GAMMA Investing LLC purchased a new position in shares of DoubleDown Interactive during the 2nd quarter worth $155,000. Renaissance Technologies LLC raised its holdings in DoubleDown Interactive by 35.7% in the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock valued at $619,000 after buying an additional 19,256 shares during the period. Aristides Capital LLC lifted its position in DoubleDown Interactive by 15.5% in the first quarter. Aristides Capital LLC now owns 39,491 shares of the company's stock valued at $334,000 after buying an additional 5,297 shares during the last quarter. Corient Private Wealth LLC purchased a new position in DoubleDown Interactive during the fourth quarter worth about $94,000. Finally, XTX Topco Ltd purchased a new position in DoubleDown Interactive during the fourth quarter worth about $118,000.

DoubleDown Interactive Trading Up 1.3%

DDI stock traded up $0.15 during trading on Thursday, reaching $11.43. 15,001 shares of the stock were exchanged, compared to its average volume of 102,385. The business has a 50 day moving average price of $11.60 and a 200-day moving average price of $9.86. DoubleDown Interactive has a 1 year low of $8.10 and a 1 year high of $12.35. The firm has a market capitalization of $566.39 million, a price-to-earnings ratio of 4.97 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.58 by $0.13. The firm had revenue of $94.12 million for the quarter, compared to analyst estimates of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. On average, research analysts anticipate that DoubleDown Interactive will post 2.51 EPS for the current year.

DoubleDown Interactive Company Profile

DoubleDown Interactive NASDAQ: DDI is a digital entertainment company that specializes in the development and publishing of social casino games. The company's portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company's flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.

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