DoubleDown Interactive (NASDAQ:DDI) Shares Gap Down - Here's What Happened

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $10.76, but opened at $10.53. DoubleDown Interactive shares last traded at $10.69, with a volume of 5,728 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wedbush increased their price objective on shares of DoubleDown Interactive from $16.25 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Northland Securities increased their price target on DoubleDown Interactive from $18.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th.

DoubleDown Interactive Trading Down 2.4 %

The company has a market cap of $520.31 million, a P/E ratio of 4.57 and a beta of 0.95. The business's 50-day moving average price is $12.57 and its 200 day moving average price is $13.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 21.25 and a current ratio of 21.25.

DoubleDown Interactive (NASDAQ:DDI - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.04). DoubleDown Interactive had a return on equity of 14.78% and a net margin of 33.28%. The business had revenue of $82.98 million for the quarter, compared to analyst estimates of $83.49 million. During the same period last year, the firm earned $0.54 EPS. As a group, analysts expect that DoubleDown Interactive Co., Ltd. will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On DoubleDown Interactive

Several hedge funds have recently added to or reduced their stakes in DDI. JPMorgan Chase & Co. bought a new position in shares of DoubleDown Interactive in the third quarter valued at about $81,000. Renaissance Technologies LLC raised its holdings in DoubleDown Interactive by 81.6% in the 2nd 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 period. Finally, Sanctuary Advisors LLC bought a new position in DoubleDown Interactive in the 3rd quarter valued at about $2,026,000.

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.