DoubleDown Interactive (NASDAQ:DDI) Sees Unusually-High Trading Volume – Here’s Why

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw unusually-strong trading volume on Monday . Approximately 27,352 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 36,063 shares.The stock last traded at $14.93 and had previously closed at $15.52.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. B. Riley increased their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Wedbush lifted their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Northland Securities raised their price objective on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Trading Down 2.7 %

The stock’s 50 day simple moving average is $14.57 and its two-hundred day simple moving average is $13.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 18.68. The stock has a market capitalization of $748.21 million, a PE ratio of 6.75 and a beta of 0.88.

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

Institutional Trading of DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC boosted its stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.