DoubleDown Interactive (NASDAQ:DDI) Sees Large Volume Increase – Here’s What Happened

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) shares saw strong trading volume on Thursday . Approximately 280,075 shares traded hands during trading, an increase of 163% from the previous session’s volume of 106,488 shares.The stock last traded at $11.3190 and had previously closed at $11.00.

Analysts Set New Price Targets

Several research firms have weighed in on DDI. Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Freedom Capital lowered shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wedbush dropped their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

DoubleDown Interactive Trading Up 1.7%

The firm has a market cap of $554.51 million, a PE ratio of 4.87 and a beta of 1.02. The firm has a 50 day moving average price of $11.04 and a 200-day moving average price of $9.58.

DoubleDown Interactive (NASDAQ:DDI) last released its earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. The firm had revenue of $94.12 million for the quarter, compared to analyst estimates of $94.26 million. Equities analysts forecast that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aristides Capital LLC increased its holdings in DoubleDown Interactive by 4.5% in the fourth quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after buying an additional 1,480 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of DoubleDown Interactive by 2.3% during the 4th 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 in the last quarter. Osaic Holdings Inc. boosted its position in shares of 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 acquiring an additional 2,397 shares in the last quarter. Four Tree Island Advisory LLC purchased a new position in shares of DoubleDown Interactive in the 4th quarter valued at about $93,000. Finally, Corient Private Wealth LLC purchased a new position in shares of DoubleDown Interactive in the 4th quarter valued at about $94,000.

DoubleDown Interactive Company Profile

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.