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

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) 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 traded.

Analysts Set New Price Targets

DDI has been the topic of several research reports. Wedbush lifted their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities lifted their price objective on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

DoubleDown Interactive Trading Down 2.0 %

The firm’s 50-day simple moving average is $12.67 and its 200 day simple moving average is $13.19. 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 $522.29 million, a P/E ratio of 4.58 and a beta of 0.95.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $83.49 million. During the same period last year, the firm earned $0.54 EPS. As a group, analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current year.

Institutional Trading of DoubleDown Interactive

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in shares of DoubleDown Interactive in the third quarter valued at approximately $81,000. Renaissance Technologies LLC increased its holdings in DoubleDown Interactive by 81.6% during the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock worth $529,000 after acquiring an additional 18,200 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in DoubleDown Interactive during the 3rd quarter worth approximately $2,026,000.

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.