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

Key Points

• Short interest fell 40.6% to 21,946 shares as of September 15, representing approximately 0.0% of DoubleDown Interactive’s shares and just 0.1 days to cover.
• DoubleDown opened at $13.13, near its 12-month high of $13.28, with a market capitalization of about $650.6 million and a P/E ratio of 5.21.
• The company beat quarterly earnings expectations, reporting $0.66 EPS versus the $0.61 consensus and revenue of $94.29 million; analysts maintain a “Moderate Buy” consensus with an average price target of $18.33.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 21,946 shares, a decline of 40.6% from the August 31st total of 36,965 shares. Approximately 0.0% of the company's shares are short sold. Based on an average trading volume of 154,320 shares, the days-to-cover ratio is currently 0.1 days.

DoubleDown Interactive Stock Up 0.3%

Shares of DoubleDown Interactive stock opened at $13.13 on Wednesday. The stock has a market cap of $650.59 million, a PE ratio of 5.21 and a beta of 1.03. DoubleDown Interactive has a 12 month low of $8.10 and a 12 month high of $13.28. The business has a fifty day simple moving average of $12.47 and a 200 day simple moving average of $11.21. The company has a quick ratio of 18.67, a current ratio of 18.67 and a debt-to-equity ratio of 0.03.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. The business had revenue of $94.29 million for the quarter, compared to the consensus estimate of $92.90 million. DoubleDown Interactive had a net margin of 32.91% and a return on equity of 12.93%. Research analysts predict that DoubleDown Interactive will post 2.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DDI. B. Riley Financial raised their price target on DoubleDown Interactive from $22.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, DoubleDown Interactive presently has a consensus rating of "Moderate Buy" and an average price target of $18.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in DoubleDown Interactive in the second quarter valued at about $155,000. Renaissance Technologies LLC raised its position in shares of DoubleDown Interactive by 35.7% during the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock worth $619,000 after purchasing an additional 19,256 shares during the period. Aristides Capital LLC lifted its holdings in shares of DoubleDown Interactive by 15.5% during the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company's stock valued at $334,000 after purchasing an additional 5,297 shares in the last quarter. 683 Capital Management LLC lifted its holdings in shares of DoubleDown Interactive by 66.7% during the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company's stock valued at $4,315,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Whetstone Capital Advisors LLC acquired a new position in shares of DoubleDown Interactive in the 4th quarter valued at approximately $173,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. NASDAQ: DDI is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.

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