DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – Should You Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) shares gapped up before the market opened on Friday . The stock had previously closed at $11.00, but opened at $11.35. DoubleDown Interactive shares last traded at $11.4830, with a volume of 2,668 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports 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. Wedbush cut their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Freedom Capital downgraded shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded 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 company’s stock. Based on data from MarketBeat.com, DoubleDown Interactive currently has an average rating of “Hold” and a consensus price target of $15.50.

DoubleDown Interactive Price Performance

The stock has a fifty day moving average of $11.09 and a 200 day moving average of $9.59. The stock has a market cap of $568.34 million, a price-to-earnings ratio of 4.99 and a beta of 1.02.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The company had revenue of $94.12 million during the quarter, compared to analyst estimates 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 expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position 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 period. Hudson Bay Capital Management LP purchased a new position in DoubleDown Interactive during the second quarter valued at approximately $5,759,000. 683 Capital Management LLC lifted its holdings in DoubleDown Interactive by 66.7% in the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares during the period. Potomac Capital Management Inc. purchased a new stake in DoubleDown Interactive in the 4th quarter worth approximately $683,000. Finally, Stonehill Capital Management LLC grew its stake in shares of DoubleDown Interactive by 49.1% during the 3rd quarter. Stonehill Capital Management LLC now owns 190,605 shares of the company’s stock worth $1,780,000 after purchasing an additional 62,735 shares during the period.

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.