GRAVITY (NASDAQ:GRVY) Shares Pass Above 50 Day Moving Average – Here’s What Happened

GRAVITY Co., Ltd. (NASDAQ:GRVY)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $57.61 and traded as high as $57.80. GRAVITY shares last traded at $57.70, with a volume of 4,500 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of GRAVITY in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

GRAVITY Stock Up 1.3%

The business’s 50-day simple moving average is $57.61 and its two-hundred day simple moving average is $61.37. The firm has a market capitalization of $401.02 million, a price-to-earnings ratio of 7.28 and a beta of 0.98.

GRAVITY (NASDAQ:GRVY) last released its quarterly earnings results on Friday, November 7th. The technology company reported $2.04 EPS for the quarter. The business had revenue of $98.92 million during the quarter. GRAVITY had a return on equity of 16.39% and a net margin of 16.84%.

Institutional Trading of GRAVITY

A number of institutional investors and hedge funds have recently bought and sold shares of GRVY. Acadian Asset Management LLC boosted its stake in shares of GRAVITY by 8.7% in the first quarter. Acadian Asset Management LLC now owns 233,983 shares of the technology company’s stock valued at $14,126,000 after purchasing an additional 18,826 shares during the period. Militia Capital Partners LP lifted its holdings in GRAVITY by 9.4% during the 3rd quarter. Militia Capital Partners LP now owns 58,000 shares of the technology company’s stock worth $3,712,000 after buying an additional 5,000 shares in the last quarter. Two Sigma Investments LP boosted its position in GRAVITY by 64.0% in the 3rd quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock valued at $1,382,000 after buying an additional 8,427 shares during the period. Boston Partners boosted its position in GRAVITY by 14.5% in the 3rd quarter. Boston Partners now owns 19,344 shares of the technology company’s stock valued at $1,238,000 after buying an additional 2,455 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of GRAVITY by 28.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,644 shares of the technology company’s stock worth $869,000 after acquiring an additional 3,000 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

GRAVITY Company Profile

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role?playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company’s product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.