DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Update

Key Points

• Short interest in DoubleDown Interactive surged 69.8% to 36,965 shares as of August 31, though only about 0.1% of shares were sold short and the short-interest ratio remained low at 0.3 days.
• Analysts maintain a consensus “Hold” rating with an average price target of $18.33. B. Riley raised its target from $22 to $24 and assigned a “Buy” rating.
• The company exceeded quarterly expectations, reporting $0.66 in EPS versus the $0.61 estimate and revenue of $94.29 million versus $92.90 million expected; shares traded at $12.70.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 36,965 shares, an increase of 69.8% from the August 15th total of 21,764 shares. Approximately 0.1% of the company's shares are sold short. Based on an average trading volume of 108,356 shares, the short-interest ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

DDI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. B. Riley Financial increased their price target on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $18.33.

DoubleDown Interactive Stock Down 0.4%

DDI traded down $0.05 during trading on Wednesday, reaching $12.70. The stock had a trading volume of 250,839 shares, compared to its average volume of 105,984. The company has a current ratio of 18.67, a quick ratio of 18.67 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $629.43 million, a price-to-earnings ratio of 5.03 and a beta of 1.03. The stock's 50 day moving average is $12.15 and its two-hundred day moving average is $10.94. DoubleDown Interactive has a one year low of $8.10 and a one year high of $13.28.

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

Hedge Funds Weigh In On DoubleDown Interactive

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of DoubleDown Interactive in the 2nd quarter worth approximately $155,000. Whetstone Capital Advisors LLC purchased a new position in DoubleDown Interactive during the fourth quarter valued at $173,000. Aristides Capital LLC boosted its holdings in DoubleDown Interactive by 4.5% in the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company's stock worth $295,000 after acquiring an additional 1,480 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of DoubleDown Interactive by 35.7% in the first quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock worth $619,000 after acquiring an additional 19,256 shares during the last quarter. Finally, Potomac Capital Management Inc. purchased a new stake in shares of DoubleDown Interactive in the fourth quarter worth $683,000.

DoubleDown Interactive Company Profile

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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