DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) is seeing a large increase in short interest

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI – Get Free Report ) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 118,300 shares, an increase of 12.3% from the July 15th total of 105,300 shares. Based on an average daily trading volume of 22,500 shares, the short interest rate is currently 5.3 days.

Hedge funds influence DoubleDown Interactive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Direct Indexing LP acquired a new position in DoubleDown Interactive in the fourth quarter valued at $82,000. Arbor Capital Management Inc. ADV acquired a new stake in shares of DoubleDown Interactive in the fourth quarter valued at about $514,000. Renaissance Technologies LLC boosted its holdings in shares of DoubleDown Interactive by 81.6% in the second quarter. Renaissance Technologies LLC now owns 40,500 shares of the company’s stock valued at $529,000 after acquiring an additional 18,200 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its holdings in shares of DoubleDown Interactive by 2.4% in the fourth quarter. B. Riley Financial Inc. now owns 4,141,616 shares of the company’s stock valued at $30,441,000 after acquiring an additional 96,740 shares in the last quarter.

DoubleDown Interactive Trading Up 5.3%

Shares of DDI stock opened at $13.21 on Monday. The company’s fifty-day simple moving average is $12.17, and its 200-day simple moving average is $11.84. The company has a market cap of $654.60 million, a PE ratio of 6.14 and a beta of 0.80. DoubleDown Interactive has a 12 month low of $6.95 and a 12 month high of $15.96.

DoubleDown Interactive (NASDAQ:DDI – Get Your Free Report ) last posted its earnings results on Monday, August 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.19. The company had revenue of $88.24 million for the quarter, compared to analyst estimates of $83.87 million. DoubleDown Interactive had a net margin of 33.51% and a return on equity of 15.00%. During the same period in the previous year, the company posted EPS of $0.49. On average, equities analysts predict that DoubleDown Interactive will post 2.07 earnings per share for the current year.

Changes in Analyst Ratings

Several research analysts have weighed in on DDI shares. Macquarie assumed coverage on DoubleDown Interactive in a research report on Monday, May 20th. They issued an “outperform” rating on the stock. Northland Securities boosted their price target on DoubleDown Interactive from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. B. Riley boosted their price target on DoubleDown Interactive from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Wedbush boosted their price objective on DoubleDown Interactive from $14.75 to $16.25 and gave the company an “outperform” rating in a research report on Tuesday, August 13th.

Check out our latest analysis of DDI

DoubleDown Interactive Company Profile

(Get a free report)

DoubleDown Interactive Co, Ltd. is engaged in developing and publishing casual games and mobile applications in South Korea. Publish digital game 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 virtual tokens in the game.

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