DoubleDown Interactive (NASDAQ:DDI) Trading Up 4.3% – Still a Buy?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares shot up 4.3% during mid-day trading on Monday . The stock traded as high as $10.69 and last traded at $10.69. 24,050 shares were traded during mid-day trading, a decline of 37% from the average session volume of 38,106 shares. The stock had previously closed at $10.25.

Analyst Ratings Changes

Several analysts recently weighed in on DDI shares. Wedbush upped their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities raised their price target on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Stock Up 3.1 %

The stock has a market capitalization of $523.78 million, a P/E ratio of 4.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The firm has a 50-day simple moving average of $13.55 and a 200 day simple moving average of $13.31.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The business had revenue of $82.98 million during the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a net margin of 33.28% and a return on equity of 14.78%. During the same quarter last year, the company posted $0.54 earnings per share. On average, equities research analysts forecast that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current year.

Institutional Trading of DoubleDown Interactive

Several institutional investors have recently added to or reduced their stakes in DDI. JPMorgan Chase & Co. acquired a new stake in DoubleDown Interactive during the third quarter worth approximately $81,000. Renaissance Technologies LLC lifted its stake in DoubleDown Interactive by 81.6% in the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after buying an additional 18,200 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of DoubleDown Interactive during the 3rd quarter worth approximately $2,026,000.

DoubleDown Interactive Company Profile

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.