DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Down 36.5% in July

Key Points

• Short interest in DoubleDown Interactive fell 36.5% to 9,532 shares as of July 15, representing 0.0% of shares outstanding and a short-interest ratio of 0.2 days.
• Institutional activity was generally positive, with Osaic Holdings increasing its stake by 338.6% and several other investors establishing new positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $15.50; shares recently traded at $11.60, while the company exceeded quarterly EPS expectations with $0.71 versus $0.58 forecast.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 9,532 shares, a drop of 36.5% from the June 30th total of 15,007 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 60,161 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On DoubleDown Interactive

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in DoubleDown Interactive by 338.6% during the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company's stock valued at $30,000 after purchasing an additional 2,397 shares during the period. Four Tree Island Advisory LLC bought a new position in shares of DoubleDown Interactive during the 4th quarter valued at approximately $93,000. Corient Private Wealth LLC bought a new position in shares of DoubleDown Interactive during the 4th quarter valued at approximately $94,000. GAMMA Investing LLC purchased a new stake in DoubleDown Interactive during the 2nd quarter valued at $155,000. Finally, XTX Topco Ltd purchased a new stake in DoubleDown Interactive during the 4th quarter valued at $118,000.

Analyst Ratings Changes

DDI has been the subject of several research reports. Weiss Ratings raised shares of DoubleDown Interactive from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Freedom Capital cut DoubleDown Interactive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Wedbush decreased their target price on DoubleDown Interactive from $21.00 to $15.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised DoubleDown Interactive from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $15.50.

DoubleDown Interactive Stock Up 0.3%

DoubleDown Interactive stock traded up $0.04 during mid-day trading on Thursday, reaching $11.60. 19,118 shares of the company's stock traded hands, compared to its average volume of 99,731. DoubleDown Interactive has a 12-month low of $8.10 and a 12-month high of $12.35. The stock has a 50 day moving average of $11.53 and a two-hundred day moving average of $10.04. The company has a market cap of $574.58 million, a price-to-earnings ratio of 5.04 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.13. The business had revenue of $94.12 million during the quarter, compared to analysts' expectations of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. As a group, sell-side analysts forecast that DoubleDown Interactive will post 2.51 earnings per share 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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