DoubleDown Interactive (NASDAQ:DDI) Shares Down 5.1% - Here's Why

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI - Get Free Report)'s stock price was down 5.1% during mid-day trading on Monday . The stock traded as low as $10.23 and last traded at $10.23. Approximately 28,431 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 37,952 shares. The stock had previously closed at $10.78.

Analyst Ratings Changes

DDI has been the subject of a number of recent analyst reports. Northland Securities lifted their price objective on DoubleDown Interactive from $18.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Wedbush lifted their target price on DoubleDown Interactive from $16.25 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th.

DoubleDown Interactive Trading Down 2.6 %

The firm has a market capitalization of $520.31 million, a P/E ratio of 4.57 and a beta of 0.87. The firm has a 50 day moving average of $13.89 and a 200-day moving average of $13.37. The company has a quick ratio of 21.25, a current ratio of 21.25 and a debt-to-equity ratio of 0.05.

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

Institutional Investors Weigh In On DoubleDown Interactive

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