DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) Sees Significant Growth in Short Interest

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 29,222 shares, an increase of 28.8% from the January 15th total of 22,681 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 53,659 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 53,659 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On DoubleDown Interactive

Several large investors have recently made changes to their positions in DDI. Whetstone Capital Advisors LLC purchased a new stake in DoubleDown Interactive during the fourth quarter worth $173,000. Hudson Bay Capital Management LP boosted its stake in shares of DoubleDown Interactive by 50.2% during the 4th quarter. Hudson Bay Capital Management LP now owns 565,251 shares of the company’s stock worth $4,878,000 after acquiring an additional 188,815 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of DoubleDown Interactive by 41.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 96,275 shares of the company’s stock valued at $831,000 after acquiring an additional 28,006 shares during the period. Aristides Capital LLC grew its position in shares of DoubleDown Interactive by 4.5% during the 4th quarter. Aristides Capital LLC now owns 34,194 shares of the company’s stock valued at $295,000 after acquiring an additional 1,480 shares during the period. Finally, Potomac Capital Management Inc. purchased a new position in shares of DoubleDown Interactive in the 4th quarter valued at about $683,000.

Analysts Set New Price Targets

A number of research firms recently commented on DDI. Wall Street Zen cut shares of DoubleDown Interactive from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DoubleDown Interactive in a report on Wednesday, January 21st. Loop Capital set a $16.00 price objective on shares of DoubleDown Interactive in a report on Monday, November 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.75.

DoubleDown Interactive Trading Down 1.4%

NASDAQ DDI opened at $8.63 on Wednesday. The stock has a 50-day simple moving average of $8.74 and a two-hundred day simple moving average of $9.05. DoubleDown Interactive has a fifty-two week low of $8.09 and a fifty-two week high of $11.25.

DoubleDown Interactive (NASDAQ:DDI) last issued its earnings results on Wednesday, February 11th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). The company had revenue of $95.79 million during the quarter, compared to analysts’ expectations of $99.61 million. DoubleDown Interactive had a return on equity of 11.27% and a net margin of 28.48%. On average, research analysts anticipate that DoubleDown Interactive will post 2.28 earnings per share for the current year.

DoubleDown Interactive Company Profile

DoubleDown Interactive (NASDAQ: DDI) is a digital entertainment company that specializes in the development and publishing of social casino games. The company’s portfolio centers around free-to-play titles that emulate the experience of land-based casino games such as slots, video poker, bingo and table games. By blending high-quality graphics, engaging gameplay features and real-time social mechanics, DoubleDown Interactive aims to deliver a virtual casino environment accessible via web, mobile and social media platforms.

The company’s flagship offering, DoubleDown Casino, serves as a hub for multiple slot and table-style games, enabling millions of registered players to compete in tournaments, unlock new machines and purchase virtual coins through in-app transactions.