DoubleDown Interactive (NASDAQ:DDI) Hits New 52-Week High - What's Next?

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.17 and last traded at $16.76, with a volume of 32385 shares traded. The stock had previously closed at $17.00.

Wall Street Analyst Weigh In

A number of research firms have commented on DDI. B. Riley raised their target price on shares of DoubleDown Interactive from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. Northland Securities boosted their price objective on shares of DoubleDown Interactive from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 13th. Finally, Wedbush increased their price target on shares of DoubleDown Interactive from $14.75 to $16.25 and gave the company an "outperform" rating in a research report on Tuesday, August 13th.

DoubleDown Interactive Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 18.68 and a quick ratio of 18.68. The company has a market capitalization of $805.19 million, a price-to-earnings ratio of 6.97 and a beta of 0.88. The firm has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $13.07.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last posted its quarterly earnings data 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. DoubleDown Interactive had a return on equity of 15.62% and a net margin of 34.85%. The company had revenue of $88.24 million for the quarter, compared to analysts' expectations of $83.87 million. During the same period in the previous year, the firm posted $0.49 EPS. On average, analysts anticipate that DoubleDown Interactive Co., Ltd. will post 2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoubleDown Interactive

An institutional investor recently raised its position in DoubleDown Interactive stock. Renaissance Technologies LLC grew its stake in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI - Free Report) by 81.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the company's stock after purchasing an additional 18,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of DoubleDown Interactive worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

DoubleDown Interactive Company Profile

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.

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