DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – Time to Buy?

Shares of DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) gapped up prior to trading on Tuesday . The stock had previously closed at $9.19, but opened at $10.75. DoubleDown Interactive shares last traded at $10.78, with a volume of 199,991 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings downgraded DoubleDown Interactive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.75.

DoubleDown Interactive Trading Down 0.8%

The company has a 50 day moving average price of $8.89 and a 200 day moving average price of $8.88. The company has a market capitalization of $540.10 million, a P/E ratio of 5.27 and a beta of 0.84.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Thursday, February 12th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%.The business had revenue of $95.79 million for the quarter, compared to the consensus estimate of $99.61 million. As a group, sell-side analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DDI. Goldman Sachs Group Inc. lifted its holdings in DoubleDown Interactive by 127.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after purchasing an additional 16,128 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in DoubleDown Interactive by 124.7% during the 1st quarter. Acadian Asset Management LLC now owns 60,282 shares of the company’s stock worth $591,000 after purchasing an additional 33,459 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in DoubleDown Interactive by 130.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,231,132 shares of the company’s stock worth $11,782,000 after purchasing an additional 696,366 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in DoubleDown Interactive during the 2nd quarter worth approximately $5,759,000. Finally, Osaic Holdings Inc. lifted its holdings in DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after purchasing an additional 2,397 shares during the last quarter.

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.