DoubleDown Interactive (NASDAQ:DDI) Stock Price Up 3.9% – Still a Buy?

Shares of DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shot up 3.9% during mid-day trading on Monday . The stock traded as high as $10.10 and last traded at $10.13. 8,362 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 30,371 shares. The stock had previously closed at $9.75.

Analyst Ratings Changes

DDI has been the subject of several analyst reports. Wedbush upped 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 upped their price target on DoubleDown Interactive from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th.

DoubleDown Interactive Stock Performance

The stock’s 50-day moving average is $11.15 and its 200 day moving average is $12.94. The stock has a market cap of $504.91 million, a price-to-earnings ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 21.25 and a quick ratio of 21.25.

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

Institutional Trading of DoubleDown Interactive

Several large investors have recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of DoubleDown Interactive in the 4th quarter worth about $76,000. JPMorgan Chase & Co. acquired a new position in DoubleDown Interactive in the 3rd quarter valued at about $81,000. Sanctuary Advisors LLC acquired a new position in DoubleDown Interactive in the 3rd quarter valued at about $2,026,000. Finally, Renaissance Technologies LLC lifted its holdings in DoubleDown Interactive by 81.6% in the 2nd quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after purchasing an additional 18,200 shares in the last quarter.

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.