DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down to $12.90

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped down prior to trading on Wednesday . The stock had previously closed at $12.90, but opened at $12.51. DoubleDown Interactive shares last traded at $12.51, with a volume of 611 shares trading hands.

Analyst Ratings Changes

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

DoubleDown Interactive Stock Performance

The business has a 50-day moving average of $12.04 and a 200-day moving average of $11.01. The stock has a market capitalization of $629.29 million, a price-to-earnings ratio of 5.91 and a beta of 0.80.

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

Institutional Trading of DoubleDown Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Direct Indexing L.P. purchased a new position in DoubleDown Interactive during the 4th quarter valued at about $82,000. B. Riley Financial Inc. boosted its holdings 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 valued at $30,441,000 after acquiring an additional 96,740 shares during the period. Finally, Arbor Capital Management Inc. ADV purchased a new position in DoubleDown Interactive during the 4th quarter valued at about $514,000.

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.