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

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s stock price was down 5% during 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. Approximately 33,431 shares were traded during trading, a decline of 3% from the average daily volume of 34,613 shares. The stock had previously closed at $10.80.

Separately, Wedbush upped their target price 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

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new stake in DoubleDown Interactive during the third quarter valued at $81,000. Heck Capital Advisors LLC bought a new stake in shares of DoubleDown Interactive during the 4th quarter valued at about $76,000. Trexquant Investment LP purchased a new stake in shares of DoubleDown Interactive during the 4th quarter valued at about $106,000. Raymond James Financial Inc. bought a new position in shares of DoubleDown Interactive in the 4th quarter worth approximately $153,000. Finally, Boston Partners purchased a new position in shares of DoubleDown Interactive in the fourth quarter worth approximately $354,000.

DoubleDown Interactive Price Performance

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

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company 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 last year, the company earned $0.54 earnings per share. Analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current fiscal year.

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.