DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Up 267.6% in December

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 20,882 shares, a growth of 267.6% from the December 15th total of 5,680 shares. Based on an average daily trading volume, of 135,210 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 135,210 shares, the days-to-cover ratio is presently 0.2 days.

DoubleDown Interactive Trading Down 0.5%

DDI traded down $0.04 on Tuesday, hitting $9.05. 32,785 shares of the company’s stock traded hands, compared to its average volume of 76,759. DoubleDown Interactive has a one year low of $8.09 and a one year high of $11.25. The firm has a market cap of $446.48 million, a price-to-earnings ratio of 3.97 and a beta of 0.85. The company’s 50 day simple moving average is $8.93 and its 200-day simple moving average is $9.24.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. DoubleDown Interactive had a net margin of 32.94% and a return on equity of 12.92%. The business had revenue of $95.85 million during the quarter, compared to analyst estimates of $94.28 million. As a group, equities analysts anticipate that DoubleDown Interactive will post 2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DDI has been the topic of several recent research reports. Loop Capital set a $16.00 price target on shares of DoubleDown Interactive in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of DoubleDown Interactive in a research report on Wednesday, October 8th. Zacks Research lowered DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a report on Tuesday, November 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, DoubleDown Interactive currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.60.

Institutional Investors Weigh In On DoubleDown Interactive

A number of hedge funds have recently made changes to their positions in DDI. Osaic Holdings Inc. boosted its position in shares of DoubleDown Interactive by 338.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock valued at $30,000 after acquiring an additional 2,397 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of DoubleDown Interactive by 127.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,790 shares of the company’s stock worth $285,000 after purchasing an additional 16,128 shares during the period. SG Americas Securities LLC purchased a new stake in DoubleDown Interactive during the 3rd quarter valued at $319,000. Black Maple Capital Management LP purchased a new position in DoubleDown Interactive during the second quarter worth $478,000. Finally, GSA Capital Partners LLP increased its position in DoubleDown Interactive by 54.5% during the third quarter. GSA Capital Partners LLP now owns 52,733 shares of the company’s stock valued at $493,000 after acquiring an additional 18,602 shares during the last quarter.

About DoubleDown Interactive

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.