DoubleDown Interactive (NASDAQ:DDI) Shares Down 5% Following Analyst Downgrade

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price traded down 5% during mid-day trading on Wednesday after Northland Securities lowered their price target on the stock from $21.00 to $18.00. Northland Securities currently has an outperform rating on the stock. DoubleDown Interactive traded as low as $10.18 and last traded at $10.27. 33,431 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 34,613 shares. The stock had previously closed at $10.80.

Separately, Wedbush increased their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th.

Institutional Trading of DoubleDown Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDI. Trexquant Investment LP purchased a new stake in DoubleDown Interactive during the 4th quarter valued at approximately $106,000. Boston Partners purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth $354,000. Raymond James Financial Inc. bought a new position in shares of DoubleDown Interactive during the fourth quarter worth $153,000. Heck Capital Advisors LLC purchased a new position in DoubleDown Interactive during the fourth quarter valued at $76,000. Finally, JPMorgan Chase & Co. bought a new stake in DoubleDown Interactive in the 3rd quarter valued at $81,000.

DoubleDown Interactive Stock Performance

The firm’s 50 day simple moving average is $10.80 and its 200 day simple moving average is $12.90. The firm has a market cap of $496.00 million, a PE ratio of 4.35 and a beta of 0.94. The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05.

DoubleDown Interactive (NASDAQ:DDI) last posted its 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). The firm had revenue of $82.98 million during 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 prior year, the firm posted $0.54 earnings per share. On average, research analysts forecast that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current fiscal year.

DoubleDown Interactive Company Profile

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.