DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down – What’s Next?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares gapped down prior to trading on Friday . The stock had previously closed at $10.79, but opened at $10.52. DoubleDown Interactive shares last traded at $10.55, with a volume of 1,455 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wedbush raised their price target on DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Northland Securities raised their target price on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th.

DoubleDown Interactive Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25. The stock has a market capitalization of $507.92 million, a PE ratio of 4.46 and a beta of 0.87. The company’s fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $13.30.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business had revenue of $82.98 million for the quarter, compared to analysts’ expectations of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same period last year, the business earned $0.54 earnings per share. As a group, sell-side analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDI. JPMorgan Chase & Co. acquired a new stake in shares of DoubleDown Interactive during the third quarter worth $81,000. Renaissance Technologies LLC increased 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 purchasing an additional 18,200 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in DoubleDown Interactive during the third quarter worth about $2,026,000.

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.