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

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s share price hit a new 52-week high during trading on Monday. The company traded as high as $15.53 and last traded at $15.7360, with a volume of 296,756 shares traded. The stock had previously closed at $13.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DDI. B. Riley Financial increased their price objective on DoubleDown Interactive from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoubleDown Interactive in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, DoubleDown Interactive presently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

DoubleDown Interactive Price Performance

The business has a 50-day simple moving average of $13.24 and a 200 day simple moving average of $11.12. The firm has a market cap of $777.14 million, a P/E ratio of 6.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.67 and a current ratio of 18.67.

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

Institutional Trading of DoubleDown Interactive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DDI. GAMMA Investing LLC boosted its holdings in DoubleDown Interactive by 11.3% in the third quarter. GAMMA Investing LLC now owns 15,064 shares of the company’s stock valued at $200,000 after acquiring an additional 1,532 shares in the last quarter. Aristides Capital LLC increased its position in DoubleDown Interactive by 15.5% during the 1st quarter. Aristides Capital LLC now owns 39,491 shares of the company’s stock valued at $334,000 after purchasing an additional 5,297 shares during the period. R Squared Ltd purchased a new position in DoubleDown Interactive during the 3rd quarter valued at $145,000. Renaissance Technologies LLC increased 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 period. Finally, Eurizon Capital SGR S.p.A. bought a new position in DoubleDown Interactive in the 3rd quarter worth $282,000.

About DoubleDown Interactive

DoubleDown Interactive Co, Ltd. (NASDAQ: DDI) is a South Korean developer and publisher of social casino games. The company creates digital casino-style entertainment products that allow users to play games such as slots and poker using virtual currency rather than real-money wagers.

Its flagship product is DoubleDown Casino, a free-to-play social casino platform available through mobile devices and online channels, including social networking platforms. The company also offers related titles and casino-themed games, including DoubleDown Fortunes and other slot-focused products.