DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Short Interest Update

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 25,187 shares, a drop of 54.8% from the May 31st total of 55,746 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 112,081 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDI. Osaic Holdings Inc. raised its position in shares of DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after acquiring an additional 2,397 shares during the period. Four Tree Island Advisory LLC acquired a new stake in shares of DoubleDown Interactive during the 4th quarter valued at about $93,000. Corient Private Wealth LLC purchased a new position in shares of DoubleDown Interactive in the 4th quarter valued at about $94,000. XTX Topco Ltd acquired a new position in DoubleDown Interactive in the 4th quarter worth about $118,000. Finally, Whetstone Capital Advisors LLC acquired a new position in DoubleDown Interactive in the 4th quarter worth about $173,000.

DoubleDown Interactive Stock Performance

Shares of DoubleDown Interactive stock traded up $0.01 during trading on Wednesday, hitting $11.49. 52,940 shares of the company’s stock were exchanged, compared to its average volume of 105,968. The stock has a market capitalization of $569.58 million, a price-to-earnings ratio of 5.00 and a beta of 1.02. The business has a 50-day simple moving average of $11.25 and a 200-day simple moving average of $9.64. DoubleDown Interactive has a 52-week low of $8.10 and a 52-week high of $12.35.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. The business had revenue of $94.12 million for the quarter, compared to analysts’ expectations of $94.26 million. On average, equities analysts anticipate that DoubleDown Interactive will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DDI shares. Wall Street Zen raised shares of DoubleDown Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Freedom Capital cut DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wedbush dropped their price target on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, DoubleDown Interactive has an average rating of “Hold” and an average target price of $15.50.

DoubleDown Interactive Company Profile

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.