DoubleDown Interactive (NASDAQ:DDI) Reaches New 1-Year High – Should You Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s stock price hit a new 52-week high during trading on Wednesday. The stock traded as high as $13.29 and last traded at $13.26, with a volume of 63750 shares trading hands. The stock had previously closed at $13.06.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. B. Riley Financial raised their price target on shares of DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of DoubleDown Interactive in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.33.

DoubleDown Interactive Stock Performance

The company has a 50 day simple moving average of $12.55 and a 200-day simple moving average of $11.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.67 and a quick ratio of 18.67. The stock has a market cap of $652.08 million, a P/E ratio of 5.22 and a beta of 1.05.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. DoubleDown Interactive had a return on equity of 12.93% and a net margin of 32.91%.The company had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $92.90 million. On average, equities analysts expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoubleDown Interactive

Several institutional investors have recently bought and sold shares of DDI. GAMMA Investing LLC bought a new stake in DoubleDown Interactive during the 2nd quarter valued at $155,000. Renaissance Technologies LLC raised its position in DoubleDown Interactive by 35.7% during the 1st quarter. Renaissance Technologies LLC now owns 73,256 shares of the company’s stock valued at $619,000 after purchasing an additional 19,256 shares during the last quarter. Aristides Capital LLC grew its position in shares of DoubleDown Interactive by 15.5% in the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock worth $334,000 after buying an additional 5,297 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of DoubleDown Interactive by 66.7% during the fourth quarter. 683 Capital Management LLC now owns 500,000 shares of the company’s stock valued at $4,315,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Whetstone Capital Advisors LLC bought a new stake in DoubleDown Interactive in the fourth quarter valued at $173,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a social casino game developer and publisher headquartered in South Korea. The company creates free-to-play casino-themed games that use virtual currencies and are designed for play on mobile devices, personal computers and social-networking platforms.

Its principal product is DoubleDown Casino, a digital casino game featuring virtual versions of slot machines, blackjack, poker and other casino-style experiences. The company also offers additional social casino titles, including DoubleDown Fortunes and related mobile and online gaming products.