DoubleDown Interactive (NASDAQ:DDI) Sees Strong Trading Volume – Here’s What Happened

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares saw strong trading volume on Friday . 56,260 shares traded hands during trading, an increase of 51% from the previous session’s volume of 37,262 shares.The stock last traded at $10.81 and had previously closed at $12.14.

Wall Street Analysts Forecast Growth

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

DoubleDown Interactive Trading Down 8.3 %

The company has a quick ratio of 21.25, a current ratio of 21.25 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $14.41 and its 200-day moving average is $13.45. The stock has a market capitalization of $551.49 million, a price-to-earnings ratio of 4.70 and a beta of 0.87.

DoubleDown Interactive (NASDAQ:DDI) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share (EPS) 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 firm had revenue of $82.98 million for the quarter, compared to analyst estimates of $83.49 million. During the same quarter in the prior year, the business earned $0.54 EPS. Research analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

A hedge fund recently raised its stake in DoubleDown Interactive stock. Renaissance Technologies LLC raised its position in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) by 81.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the company’s stock after acquiring an additional 18,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent SEC filing.

About DoubleDown Interactive

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.