DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down to $11.23

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped down prior to trading on Monday . The stock had previously closed at $11.23, but opened at $10.68. DoubleDown Interactive shares last traded at $10.68, with a volume of 494 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on DDI. Macquarie assumed coverage on DoubleDown Interactive in a report on Monday, May 20th. They issued an “outperform” rating for the company. Wedbush lifted their price objective on DoubleDown Interactive from $13.50 to $14.75 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Finally, B. Riley started coverage on shares of DoubleDown Interactive in a research note on Thursday, June 6th. They set a “buy” rating and a $24.00 target price on the stock.

DoubleDown Interactive Trading Up 2.6 %

The business’s 50 day simple moving average is $11.64 and its two-hundred day simple moving average is $10.76. The firm has a market capitalization of $570.85 million, a PE ratio of 5.03 and a beta of 0.78.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. The company had revenue of $88.14 million during the quarter, compared to analysts’ expectations of $82.20 million. DoubleDown Interactive had a return on equity of 15.00% and a net margin of 33.51%. As a group, equities research analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.07 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. bought a new position in shares of DoubleDown Interactive in the fourth quarter worth about $82,000. Arbor Capital Management Inc. ADV bought a new stake in DoubleDown Interactive during the 4th quarter worth approximately $514,000. Finally, B. Riley Financial Inc. raised its stake in DoubleDown Interactive by 2.4% during the 4th quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after acquiring an additional 96,740 shares during the period.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.