Short Interest in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Drops By 7.7%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 108,400 shares, a decrease of 7.7% from the August 31st total of 117,400 shares. Based on an average daily volume of 30,400 shares, the days-to-cover ratio is currently 3.6 days.

DoubleDown Interactive Price Performance

Shares of NASDAQ:DDI traded down $0.26 during midday trading on Tuesday, hitting $16.24. 25,271 shares of the stock were exchanged, compared to its average volume of 31,569. The company has a 50 day moving average price of $13.22 and a 200-day moving average price of $12.30. The company has a current ratio of 18.68, a quick ratio of 18.68 and a debt-to-equity ratio of 0.05. DoubleDown Interactive has a twelve month low of $6.95 and a twelve month high of $16.75. The stock has a market cap of $804.74 million, a P/E ratio of 7.20 and a beta of 0.83.

DoubleDown Interactive (NASDAQ:DDI) last released its earnings results on Monday, August 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.19. DoubleDown Interactive had a return on equity of 15.62% and a net margin of 34.85%. The firm had revenue of $88.24 million during the quarter, compared to the consensus estimate of $83.87 million. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, research analysts forecast that DoubleDown Interactive will post 2.35 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC grew its stake in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 40,500 shares of the company’s stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned about 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the SEC.

Wall Street Analysts Forecast Growth

DDI has been the topic of a number of research analyst reports. Wedbush upped their price target on DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a report on Tuesday, August 13th. B. Riley upped their price target on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Northland Securities boosted their target price on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th.

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.