DoubleDown Interactive (NASDAQ:DDI) Shares Down 5% After Analyst Downgrade

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares traded down 5% during mid-day trading on Wednesday after Northland Securities lowered their price target on the stock from $21.00 to $18.00. Northland Securities currently has an outperform rating on the stock. DoubleDown Interactive traded as low as $10.18 and last traded at $10.27. 33,431 shares were traded during mid-day trading, a decline of 3% from the average session volume of 34,613 shares. The stock had previously closed at $10.80.

Separately, Wedbush boosted their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

Institutional Investors Weigh In On DoubleDown Interactive

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in DoubleDown Interactive in the 3rd quarter worth approximately $2,026,000. JPMorgan Chase & Co. purchased a new stake in DoubleDown Interactive in the 3rd quarter worth approximately $81,000. Heck Capital Advisors LLC purchased a new stake in DoubleDown Interactive in the 4th quarter worth approximately $76,000. Raymond James Financial Inc. purchased a new stake in DoubleDown Interactive in the 4th quarter worth approximately $153,000. Finally, Boston Partners purchased a new stake in DoubleDown Interactive in the 4th quarter worth approximately $354,000.

DoubleDown Interactive Trading Down 6.5 %

The company has a current ratio of 21.25, a quick ratio of 21.25 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $10.85 and a two-hundred day simple moving average of $12.91. The firm has a market cap of $500.11 million, a PE ratio of 4.46 and a beta of 0.94.

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

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.