DoubleDown Interactive (NASDAQ:DDI) Trading 4.5% Higher

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI)’s share price traded up 4.5% on Tuesday . The company traded as high as $12.99 and last traded at $12.69. 4,198 shares traded hands during trading, a decline of 86% from the average session volume of 31,083 shares. The stock had previously closed at $12.14.

Analyst Ratings Changes

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

DoubleDown Interactive Price Performance

The company has a market cap of $629.29 million, a P/E ratio of 5.91 and a beta of 0.80. The company’s 50-day moving average is $12.00 and its two-hundred day moving average is $10.99.

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

Institutional Investors Weigh In On DoubleDown Interactive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. purchased a new stake in DoubleDown Interactive in the fourth quarter worth approximately $82,000. Arbor Capital Management Inc. ADV purchased a new stake in DoubleDown Interactive in the fourth quarter worth approximately $514,000. Finally, B. Riley Financial Inc. boosted its holdings in DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock worth $30,441,000 after purchasing an additional 96,740 shares during 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.