DoubleDown Interactive Co., Ltd. (NASDAQ: DDI – Get a rating) experienced a significant drop in short-term interest during the month of June. As of June 30, there was short interest totaling 5,300 shares, a decrease of 43.0% from the total of 9,300 shares as of June 15. Based on an average daily trading volume of 8,300 shares, the days-to-cover ratio is currently 0.6 days.
Changes to analyst ratings
Separately, B. Riley lowered his price target on DoubleDown Interactive from $30.00 to $20.00 and set a “buy” rating for the company in a Tuesday, June 28 research report.
Hedge funds weigh on DoubleDown Interactive
A hedge fund recently bought a new stake in the shares of DoubleDown Interactive. B. Riley Asset Management LLC has acquired a new equity position in DoubleDown Interactive Co., Ltd. (NASDAQ: DDI – Get a rating) in the 4th quarter, according to its most recent communication with the Securities & Exchange Commission. The fund acquired 234,999 shares of the company, valued at approximately $3,537,000. DoubleDown Interactive represents approximately 1.8% of B. Riley Asset Management LLC’s investment portfolio, making the stock its 16th largest position. B. Riley Asset Management LLC owned 0.47% of DoubleDown Interactive when it last filed with the Securities & Exchange Commission. Institutional investors and hedge funds hold 10.18% of the company’s shares.
DoubleDown Interactive Stock Performance
DDI stock opened at $9.72 on Friday. The company has a 50-day moving average price of $10.40 and a 200-day moving average price of $11.99. The company has a market capitalization of $481.63 million and a P/E ratio of 5.93. DoubleDown Interactive has a 1-year minimum of $8.75 and a 1-year maximum of $18.50. The company has a debt ratio of 0.05, a current ratio of 14.15 and a quick ratio of 14.15.
DoubleDown Interactive (NASDAQ: DDI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of $0.37 for the quarter, missing the consensus estimate of $0.39 per ($0.02). The company posted revenue of $85.49 million for the quarter, versus analyst estimates of $86.95 million. DoubleDown Interactive had a return on equity of 9.29% and a net margin of 21.96%. As a group, equity research analysts expect DoubleDown Interactive to post EPS of 1.43 for the current fiscal year.
About DoubleDown Interactive
DoubleDown Interactive Co, Ltd. is dedicated to developing and publishing digital games on mobile and web platforms for casual gamers in South Korea. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and Undead World: Hero Survival games. Its games are primarily distributed, marketed and promoted through third-party platform providers.
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