DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Large Decline in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 15,007 shares, a drop of 40.4% from the June 15th total of 25,187 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 121,675 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

A number of analysts have issued reports on DDI shares. Wedbush cut their target price on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.50.

DoubleDown Interactive Stock Up 1.3%

DoubleDown Interactive stock traded up $0.15 during midday trading on Thursday, reaching $11.43. The company’s stock had a trading volume of 15,001 shares, compared to its average volume of 102,385. The company has a market cap of $566.39 million, a P/E ratio of 4.97 and a beta of 1.02. The business has a 50-day simple moving average of $11.60 and a 200-day simple moving average of $9.86. DoubleDown Interactive has a fifty-two week low of $8.10 and a fifty-two week high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.13. The business had revenue of $94.12 million during the quarter, compared to the consensus estimate of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. As a group, equities analysts forecast that DoubleDown Interactive will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

Several large investors have recently modified their holdings of DDI. Aristides Capital LLC raised its stake in shares of DoubleDown Interactive by 4.5% during the 4th quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock worth $295,000 after buying an additional 1,480 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in DoubleDown Interactive by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,391 shares of the company’s stock worth $694,000 after acquiring an additional 1,789 shares during the period. Osaic Holdings Inc. grew its holdings in DoubleDown Interactive by 338.6% during the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after acquiring an additional 2,397 shares during the period. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive in the fourth quarter worth $93,000. Finally, Corient Private Wealth LLC acquired a new stake in DoubleDown Interactive in the fourth quarter valued at $94,000.

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.