DoubleDown Interactive (NASDAQ:DDI) Shares Gap Up – What’s Next?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) gapped up before the market opened on Wednesday . The stock had previously closed at $11.04, but opened at $11.28. DoubleDown Interactive shares last traded at $10.92, with a volume of 956 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on DDI shares. Wedbush raised their price objective on DoubleDown Interactive from $16.25 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Northland Securities lifted their price target on shares of DoubleDown Interactive from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th.

DoubleDown Interactive Stock Down 3.5 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25. The firm has a market capitalization of $518.32 million, a P/E ratio of 4.55 and a beta of 0.95. The business has a 50 day moving average price of $12.92 and a 200 day moving average price of $13.23.

DoubleDown Interactive (NASDAQ:DDI) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). The business had revenue of $82.98 million for the quarter, compared to analyst estimates of $83.49 million. DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. During the same quarter last year, the firm earned $0.54 earnings per share. On average, analysts predict that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

A number of institutional investors have recently added to or reduced their stakes in DDI. Sanctuary Advisors LLC acquired a new position in shares of DoubleDown Interactive in the 3rd quarter valued at $2,026,000. Renaissance Technologies LLC increased its stake in DoubleDown Interactive by 81.6% in the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after acquiring an additional 18,200 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in DoubleDown Interactive in the third quarter valued at about $81,000.

DoubleDown Interactive Company Profile

DoubleDown Interactive Co, Ltd. engages in the development and publishing of casual games and mobile applications in South Korea. It publishes digital gaming content on mobile and web platforms. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and cash me out games, as well as sells in-game virtual chips.