DoubleDown Interactive (NASDAQ:DDI) Sets New 52-Week High – Time to Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.44 and last traded at $12.3680, with a volume of 26276 shares. The stock had previously closed at $12.05.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DDI. Freedom Capital downgraded shares of DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Wedbush decreased their price objective on shares of DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.50.

DoubleDown Interactive Price Performance

The firm has a market capitalization of $617.39 million, a PE ratio of 5.41 and a beta of 1.02. The firm has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $10.21.

DoubleDown Interactive (NASDAQ:DDI) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.58 by $0.13. The firm had revenue of $94.12 million during the quarter, compared to analyst estimates of $94.26 million. DoubleDown Interactive had a net margin of 30.77% and a return on equity of 12.16%. Equities analysts expect that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 earnings per share for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of institutional investors have recently bought and sold shares of DDI. Osaic Holdings Inc. lifted 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 buying an additional 2,397 shares in the last quarter. Four Tree Island Advisory LLC purchased a new position in DoubleDown Interactive during the fourth quarter valued at approximately $93,000. Corient Private Wealth LLC purchased a new stake in shares of DoubleDown Interactive in the fourth quarter worth $94,000. GAMMA Investing LLC bought a new stake in shares of DoubleDown Interactive during the 2nd quarter valued at $155,000. Finally, XTX Topco Ltd purchased a new position in shares of DoubleDown Interactive during the 4th quarter valued at $118,000.

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.