Short Interest in DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) Drops By 28.9%

DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 72,500 shares, a drop of 28.9% from the February 13th total of 102,000 shares. Based on an average daily volume of 43,700 shares, the short-interest ratio is currently 1.7 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On DoubleDown Interactive

Several institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new position in DoubleDown Interactive in the 4th quarter valued at $76,000. Millennium Management LLC raised its position in shares of DoubleDown Interactive by 25.2% during the fourth quarter. Millennium Management LLC now owns 77,624 shares of the company’s stock worth $810,000 after acquiring an additional 15,641 shares during the last quarter. Citadel Advisors LLC raised its position in shares of DoubleDown Interactive by 23.9% during the fourth quarter. Citadel Advisors LLC now owns 38,010 shares of the company’s stock worth $397,000 after acquiring an additional 7,343 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of DoubleDown Interactive during the fourth quarter worth $111,000. Finally, Ameriprise Financial Inc. raised its position in shares of DoubleDown Interactive by 10.3% during the fourth quarter. Ameriprise Financial Inc. now owns 517,341 shares of the company’s stock worth $5,401,000 after acquiring an additional 48,244 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on DDI. Wedbush reaffirmed an “outperform” rating and issued a $21.00 target price on shares of DoubleDown Interactive in a report on Wednesday, February 12th. B. Riley began coverage on DoubleDown Interactive in a report on Tuesday, February 25th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Northland Securities lowered their target price on DoubleDown Interactive from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th.

DoubleDown Interactive Stock Performance

Shares of NASDAQ:DDI traded up $0.06 during trading on Friday, hitting $9.65. 13,012 shares of the stock were exchanged, compared to its average volume of 38,220. DoubleDown Interactive has a 1-year low of $8.56 and a 1-year high of $18.21. The company has a market capitalization of $478.19 million, a price-to-earnings ratio of 3.84 and a beta of 0.92. The company’s fifty day simple moving average is $10.18 and its 200-day simple moving average is $12.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 21.25 and a current ratio of 19.38.

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.