DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down to $12.90

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.90, but opened at $12.51. DoubleDown Interactive shares last traded at $12.51, with a volume of 611 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DDI shares. Wedbush raised their price target on DoubleDown Interactive from $13.50 to $14.75 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. B. Riley assumed coverage on shares of DoubleDown Interactive in a research report on Thursday, June 6th. They set a “buy” rating and a $24.00 price target for the company. Finally, Macquarie initiated coverage on shares of DoubleDown Interactive in a report on Monday, May 20th. They issued an “outperform” rating on the stock.

DoubleDown Interactive Trading Down 1.6 %

The firm has a 50 day moving average of $11.97 and a 200-day moving average of $10.98. The company has a market cap of $628.83 million, a P/E ratio of 6.00 and a beta of 0.80.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Wednesday, May 8th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. The firm had revenue of $88.14 million during the quarter, compared to analyst estimates of $82.20 million. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. Equities analysts predict that DoubleDown Interactive Co., Ltd. will post 2.07 EPS for the current fiscal year.

Institutional Trading of DoubleDown Interactive

A number of large investors have recently added to or reduced their stakes in DDI. First Trust Direct Indexing L.P. bought a new stake in DoubleDown Interactive during the fourth quarter worth approximately $82,000. Arbor Capital Management Inc. ADV purchased a new stake in DoubleDown Interactive in the fourth quarter worth $514,000. Finally, B. Riley Financial Inc. lifted its holdings in DoubleDown Interactive by 2.4% during the 4th quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock valued at $30,441,000 after buying an additional 96,740 shares in the last quarter.

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.