DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down – Here’s Why

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $10.76, but opened at $10.53. DoubleDown Interactive shares last traded at $10.69, with a volume of 5,728 shares changing hands.

Analyst Ratings Changes

DDI has been the subject of several research analyst reports. Northland Securities lifted 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. Wedbush lifted their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th.

DoubleDown Interactive Price Performance

The stock has a market capitalization of $522.29 million, a price-to-earnings ratio of 4.58 and a beta of 0.95. The business’s fifty day moving average price is $12.67 and its 200-day moving average price is $13.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in DoubleDown Interactive during the third quarter worth about $2,026,000. Renaissance Technologies LLC boosted its holdings in DoubleDown Interactive by 81.6% during the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after purchasing an additional 18,200 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in DoubleDown Interactive during the third quarter worth about $81,000.

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.