DoubleDown Interactive (NASDAQ:DDI) Sees Strong Trading Volume – Time to Buy?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares saw strong trading volume on Friday . 56,260 shares traded hands during trading, an increase of 51% from the previous session’s volume of 37,262 shares.The stock last traded at $10.81 and had previously closed at $12.14.

Analysts Set New Price Targets

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

DoubleDown Interactive Stock Performance

The business’s 50-day simple moving average is $14.41 and its two-hundred day simple moving average is $13.45. The company has a quick ratio of 21.25, a current ratio of 21.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $551.49 million, a price-to-earnings ratio of 4.70 and a beta of 0.87.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results 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). 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 quarter in the prior year, the company posted $0.54 EPS. As a group, sell-side analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of DoubleDown Interactive

A hedge fund recently bought a new stake in DoubleDown Interactive stock. Sanctuary Advisors LLC acquired a new stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 122,800 shares of the company’s stock, valued at approximately $2,026,000. Sanctuary Advisors LLC owned about 0.25% of DoubleDown Interactive as of its most recent filing with the SEC.

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.