DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• DoubleDown Interactive’s trading volume surged 261% to 398,518 shares, while the stock rose 0.7% to $13.09.
• Analyst sentiment remains mixed: B. Riley raised its price target to $24 and kept a “Buy” rating, but the broader consensus is “Hold” with a $18.33 target.
• The company exceeded quarterly expectations, reporting $0.66 earnings per share versus $0.61 expected and revenue of $94.29 million versus $92.90 million; it also posted a 32.91% net margin.

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI - Get Free Report) shares saw an uptick in trading volume on Monday. 398,518 shares changed hands during mid-day trading, an increase of 261% from the previous session's volume of 110,537 shares. The stock last traded at $13.09 and had previously closed at $13.00.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DDI shares. B. Riley Financial lifted their price objective on DoubleDown Interactive from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of DoubleDown Interactive in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, DoubleDown Interactive currently has an average rating of "Hold" and a consensus price target of $18.33.

DoubleDown Interactive Stock Up 0.7%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67. The firm's 50 day moving average price is $12.40 and its two-hundred day moving average price is $11.15. The company has a market cap of $648.61 million, a P/E ratio of 5.19 and a beta of 1.03.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $94.29 million during 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%. Equities research analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of hedge funds have recently added to or reduced their stakes in DDI. GAMMA Investing LLC acquired a new position 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 worth $173,000. Aristides Capital LLC boosted its holdings 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 worth $295,000 after buying an additional 1,480 shares during the last quarter. Renaissance Technologies LLC grew its position in DoubleDown Interactive by 35.7% during the first 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 during the period. Finally, Potomac Capital Management Inc. purchased a new stake in DoubleDown Interactive during the fourth quarter worth about $683,000.

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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