DoubleDown Interactive (NASDAQ:DDI) Sets New 52-Week High – Should You Buy?

DoubleDown Interactive Co., Ltd. Sponsored ADR (NASDAQ:DDI)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $12.35 and last traded at $12.1250, with a volume of 9123 shares. The stock had previously closed at $12.14.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Freedom Capital downgraded DoubleDown Interactive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen raised DoubleDown Interactive from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wedbush reduced their price objective on DoubleDown Interactive from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings raised DoubleDown Interactive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.67.

DoubleDown Interactive Price Performance

The firm has a fifty day simple moving average of $9.57 and a two-hundred day simple moving average of $9.12. The firm has a market capitalization of $604.51 million, a P/E ratio of 5.30 and a beta of 1.01.

DoubleDown Interactive (NASDAQ:DDI) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. DoubleDown Interactive had a return on equity of 12.16% and a net margin of 30.77%.The firm had revenue of $94.12 million during the quarter, compared to analyst estimates of $94.26 million. On average, research analysts anticipate that DoubleDown Interactive Co., Ltd. Sponsored ADR will post 2.51 EPS for the current year.

Hedge Funds Weigh In On DoubleDown Interactive

A number of large investors have recently made changes to their positions in DDI. Osaic Holdings Inc. boosted its holdings in shares of DoubleDown Interactive by 338.6% in the second quarter. Osaic Holdings Inc. now owns 3,105 shares of the company’s stock worth $30,000 after acquiring an additional 2,397 shares during the period. Four Tree Island Advisory LLC bought a new stake in DoubleDown Interactive during the fourth quarter valued at $93,000. Corient Private Wealth LLC bought a new stake in DoubleDown Interactive during the fourth quarter valued at $94,000. XTX Topco Ltd bought a new stake in DoubleDown Interactive during the fourth quarter valued at $118,000. Finally, Whetstone Capital Advisors LLC bought a new stake in DoubleDown Interactive during the fourth quarter valued at $173,000.

About DoubleDown Interactive

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.