Short Interest in DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Grows By 267.6%

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 20,882 shares, a growth of 267.6% from the December 15th total of 5,680 shares. Based on an average daily volume of 135,210 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 135,210 shares, the short-interest ratio is currently 0.2 days.

DoubleDown Interactive Price Performance

Shares of NASDAQ DDI opened at $8.96 on Thursday. DoubleDown Interactive has a 1 year low of $8.09 and a 1 year high of $11.25. The stock has a market capitalization of $450.44 million, a P/E ratio of 3.90 and a beta of 0.85. The company’s 50-day moving average is $8.94 and its 200 day moving average is $9.23.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. DoubleDown Interactive had a return on equity of 12.92% and a net margin of 32.94%.The business had revenue of $95.85 million for the quarter, compared to analysts’ expectations of $94.28 million. Research analysts anticipate that DoubleDown Interactive will post 2.28 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DDI. Zacks Research cut shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Loop Capital set a $16.00 price target on shares of DoubleDown Interactive in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $21.00 price objective on shares of DoubleDown Interactive in a research note on Tuesday, November 11th. Finally, Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.60.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new position in shares of DoubleDown Interactive in the 2nd quarter worth about $5,759,000. 683 Capital Management LLC bought a new stake in DoubleDown Interactive during the second quarter worth about $2,632,000. Goldman Sachs Group Inc. increased its stake in shares of DoubleDown Interactive by 127.4% during the first quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock valued at $285,000 after purchasing an additional 16,128 shares in the last quarter. Boston Partners increased its stake in shares of DoubleDown Interactive by 53.7% during the second quarter. Boston Partners now owns 75,528 shares of the company’s stock valued at $723,000 after purchasing an additional 26,379 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of DoubleDown Interactive during the third quarter valued at approximately $319,000.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.