DoubleDown Interactive (NASDAQ:DDI) Hits New 52-Week High - Here's What Happened

Key Points

• DoubleDown Interactive shares reached a new 52-week high of $13.80 and were last trading at $13.75, supported by upward momentum above both the 50-day and 200-day moving averages.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $18.33; B. Riley recently raised its target from $22 to $24.
• The company exceeded quarterly expectations, reporting $0.66 in EPS versus $0.61 expected and revenue of $94.29 million versus $92.90 million forecast. Institutional investors, including Renaissance Technologies and 683 Capital Management, also increased their holdings.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report)'s stock price reached a new 52-week high during trading on Monday. The company traded as high as $13.80 and last traded at $13.75, with a volume of 52,012 shares. The stock had previously closed at $13.65.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DDI shares. B. Riley Financial boosted their price objective on DoubleDown Interactive from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DoubleDown Interactive in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

DoubleDown Interactive Trading Up 0.5%

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 fifty day moving average price of $12.77 and a 200-day moving average price of $11.48. The firm has a market capitalization of $679.93 million, a price-to-earnings ratio of 5.46 and a beta of 1.05.

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, topping analysts' consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%. The company had revenue of $94.29 million during the quarter, compared to analysts' expectations of $92.90 million. On average, equities research analysts predict that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current year.

Institutional Trading of DoubleDown Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of DoubleDown Interactive during the second quarter worth approximately $155,000. Whetstone Capital Advisors LLC bought a new stake in shares of DoubleDown Interactive during the 4th quarter valued at $173,000. Aristides Capital LLC raised its position in shares of DoubleDown Interactive by 4.5% in the 4th quarter. Aristides Capital LLC now owns 34,194 shares of the company's stock valued at $295,000 after acquiring an additional 1,480 shares during the period. Renaissance Technologies LLC increased its position in shares of DoubleDown Interactive by 35.7% in the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company's stock valued at $619,000 after buying an additional 19,256 shares in the last quarter. Finally, 683 Capital Management LLC raised its holdings in DoubleDown Interactive by 66.7% during the 4th quarter. 683 Capital Management LLC now owns 500,000 shares of the company's stock worth $4,315,000 after buying an additional 200,000 shares during the period.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. is a South Korea-based developer and publisher of social casino games for mobile devices and the web. Its games are designed to simulate casino experiences, including slot machines and other casino-style entertainment, while using virtual currency rather than offering real-money gambling.

The company's principal title is DoubleDown Casino, a social casino game available through mobile applications and online platforms. DoubleDown Interactive also offers additional casino-themed games and content, including slot-focused experiences developed for players seeking casual, entertainment-oriented gameplay.

DoubleDown Interactive was established in 2010 and became part of South Korean gaming company DoubleU Games in 2017.

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