DoubleDown Interactive (NASDAQ:DDI) Trading Up 0.4% - Here's What Happened

Key Points

• DoubleDown Interactive's stock rose 0.4% to $9.74, with a significant decline in trading volume at 20,209 shares compared to the average of 54,152 shares.
• Brokerages provided mixed ratings for the company, with B. Riley reducing their target price to $22.00 while Wedbush upgraded it to a "strong-buy" rating.
• The company reported a net margin of 34.95% but missed earnings estimates for the last quarter, with $0.48 EPS compared to consensus expectations of $0.55 EPS.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) shares shot up 0.4% during trading on Friday . The stock traded as high as $9.76 and last traded at $9.74. 20,209 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 54,152 shares. The stock had previously closed at $9.70.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DDI. B. Riley reduced their target price on DoubleDown Interactive from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Wedbush upgraded DoubleDown Interactive to a "strong-buy" rating in a research note on Tuesday, July 1st. Roth Capital began coverage on DoubleDown Interactive in a research note on Monday, June 23rd. They issued a "buy" rating and a $16.00 target price for the company. Finally, Wall Street Zen downgraded DoubleDown Interactive from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, DoubleDown Interactive has a consensus rating of "Buy" and an average price target of $19.25.

DoubleDown Interactive Price Performance

The stock has a market capitalization of $482.62 million, a P/E ratio of 4.09 and a beta of 0.87. The business's 50 day simple moving average is $9.76 and its two-hundred day simple moving average is $9.93. The company has a quick ratio of 16.04, a current ratio of 16.04 and a debt-to-equity ratio of 0.04.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.07). DoubleDown Interactive had a net margin of 34.95% and a return on equity of 14.21%. The business had revenue of $83.49 million during the quarter, compared to the consensus estimate of $84.63 million. As a group, sell-side analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DDI. Heck Capital Advisors LLC bought a new position in shares of DoubleDown Interactive during the fourth quarter valued at about $76,000. Trexquant Investment LP purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth about $106,000. BNP Paribas Financial Markets purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth about $111,000. Raymond James Financial Inc. purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth about $153,000. Finally, GAMMA Investing LLC increased its stake in shares of DoubleDown Interactive by 1,376.7% in the first quarter. GAMMA Investing LLC now owns 1,713 shares of the company's stock worth $173,000 after purchasing an additional 1,597 shares in the last quarter.

DoubleDown Interactive Company Profile

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.

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