DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Down 41.8% in March

Key Points

• Short interest down 41.8% — short interest fell to 38,378 shares as of March 31 (from 65,914 on March 15), about 0.1% of shares outstanding and a days-to-cover of 1.1.
• DoubleDown missed its latest quarter, reporting $0.49 EPS versus a $0.62 consensus and $95.79M in revenue versus $99.61M, while still posting a 28.48% net margin and 11.27% ROE.
• Shares trade around $8.74 with a market cap of $432.8M and a P/E of 4.22, and analysts hold a mixed view — consensus rating "Hold" with an average target of $18.75.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 38,378 shares, a decrease of 41.8% from the March 15th total of 65,914 shares. Based on an average daily volume of 34,897 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.1% of the shares of the company are short sold.

DoubleDown Interactive Price Performance

DDI stock traded up $0.13 during midday trading on Monday, hitting $8.74. 2,755 shares of the stock traded hands, compared to its average volume of 58,643. The firm has a market cap of $432.82 million, a P/E ratio of 4.22 and a beta of 0.84. The stock's fifty day simple moving average is $8.75 and its 200-day simple moving average is $8.88. DoubleDown Interactive has a 1-year low of $8.09 and a 1-year high of $11.25.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). The firm had revenue of $95.79 million for the quarter, compared to analyst estimates of $99.61 million. DoubleDown Interactive had a net margin of 28.48% and a return on equity of 11.27%. On average, research analysts predict that DoubleDown Interactive will post 2.28 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew 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 buying an additional 2,397 shares during the period. Four Tree Island Advisory LLC acquired a new stake in DoubleDown Interactive during the fourth quarter valued at $93,000. Corient Private Wealth LLC acquired a new stake in DoubleDown Interactive during the fourth quarter valued at $94,000. XTX Topco Ltd purchased a new position in DoubleDown Interactive during the fourth quarter valued at $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive during the fourth quarter valued at $173,000.

Wall Street Analyst Weigh In

DDI has been the topic of a number of research reports. Weiss Ratings lowered shares of DoubleDown Interactive from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of DoubleDown Interactive from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, DoubleDown Interactive currently has an average rating of "Hold" and a consensus target price of $18.75.

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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