DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – Here’s Why

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped up prior to trading on Wednesday . The stock had previously closed at $11.04, but opened at $11.28. DoubleDown Interactive shares last traded at $10.92, with a volume of 956 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DDI shares. Wedbush upped their price target on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities upped their target price on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

DoubleDown Interactive Price Performance

The stock has a 50 day moving average of $12.92 and a two-hundred day moving average of $13.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25. The stock has a market cap of $518.32 million, a PE ratio of 4.55 and a beta of 0.95.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The firm had revenue of $82.98 million for the quarter, compared to analysts’ expectations of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Equities analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in DoubleDown Interactive in the third quarter worth approximately $2,026,000. Renaissance Technologies LLC lifted its stake in shares of DoubleDown Interactive by 81.6% in the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after purchasing an additional 18,200 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of DoubleDown Interactive in the 3rd quarter valued at $81,000.

About DoubleDown Interactive

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.