DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase - Should You Buy?

Key Points

• Trading: 72,517 shares changed hands (down 8% vs. the prior session) and the stock last traded at $10.78 after a 0.7% decline; it sits above its 50- and 200-day moving averages (~$8.85) with a market cap of about $541M and a P/E of ~5.3.
• Analyst view: the consensus rating is 'Hold' with a $18.75 consensus price target derived from 3 Buys, 1 Hold and 1 Sell, while individual firms have recently issued conflicting notes (Weiss downgraded to Sell; Wall Street Zen upgraded to Buy).
• Fundamentals: the latest quarter missed expectations with EPS of $0.49 vs. $0.62 expected and revenue of $95.79M vs. $99.61M, though the company reported a 28.48% net margin and 11.27% ROE, and sell-side analysts forecast ~2.27 EPS for the fiscal year.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) saw an uptick in trading volume on Wednesday . 72,517 shares traded hands during mid-day trading, a decline of 8% from the previous session's volume of 78,860 shares.The stock last traded at $10.7820 and had previously closed at $10.99.

Analysts Set New Price Targets

DDI has been the topic of several recent research reports. Weiss Ratings downgraded DoubleDown Interactive from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, February 23rd. Wall Street Zen raised shares of DoubleDown Interactive from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Three investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.75.

DoubleDown Interactive Stock Down 0.7%

The company's fifty day moving average is $8.85 and its two-hundred day moving average is $8.87. The stock has a market cap of $540.84 million, a price-to-earnings ratio of 5.27 and a beta of 0.84.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). The firm had revenue of $95.79 million during 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%. Sell-side analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

Several hedge funds have recently added to or reduced their stakes in DDI. Osaic Holdings Inc. increased its stake in DoubleDown Interactive by 338.6% in 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 last quarter. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive in the fourth quarter valued at approximately $93,000. Corient Private Wealth LLC purchased a new position in DoubleDown Interactive in the fourth quarter valued at approximately $94,000. XTX Topco Ltd purchased a new position in DoubleDown Interactive in the fourth quarter valued at approximately $118,000. Finally, Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive in the fourth quarter valued at approximately $173,000.

About DoubleDown Interactive

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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