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

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares gapped down prior to trading on Monday . The stock had previously closed at $12.98, but opened at $12.63. DoubleDown Interactive shares last traded at $12.89, with a volume of 4,216 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DDI shares. Northland Securities lifted their price target on DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Wedbush lifted their target price 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. Finally, B. Riley increased their price target on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th.

DoubleDown Interactive Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The company has a market capitalization of $638.70 million, a price-to-earnings ratio of 5.64 and a beta of 0.87. The firm has a fifty day simple moving average of $14.68 and a 200 day simple moving average of $13.48.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $82.98 million during 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 in the previous year, the firm posted $0.54 EPS. On average, analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC raised its position in shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent SEC filing.

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.