GRAVITY (NASDAQ:GRVY) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

GRAVITY Co., Ltd. (NASDAQ:GRVY)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $62.74 and traded as low as $57.69. GRAVITY shares last traded at $58.10, with a volume of 7,828 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered GRAVITY from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of GRAVITY in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, GRAVITY has an average rating of “Hold”.

GRAVITY Stock Performance

The firm has a market capitalization of $403.74 million, a PE ratio of 6.97 and a beta of 1.28. The stock has a fifty day moving average price of $60.94 and a 200-day moving average price of $62.76.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of GRAVITY by 38.2% in the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the technology company’s stock worth $50,000 after purchasing an additional 215 shares during the last quarter. Bank of America Corp DE grew its position in GRAVITY by 11.3% in the second quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock worth $177,000 after buying an additional 282 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of GRAVITY by 160.9% in the second quarter. Parallel Advisors LLC now owns 467 shares of the technology company’s stock worth $30,000 after buying an additional 288 shares during the period. Boston Partners boosted its position in GRAVITY by 5.4% during the 1st quarter. Boston Partners now owns 14,525 shares of the technology company’s stock worth $879,000 after acquiring an additional 749 shares during the period. Finally, Quadrant Capital Group LLC purchased a new stake in GRAVITY in the 3rd quarter worth approximately $78,000. 9.92% of the stock is owned by institutional investors and hedge funds.

GRAVITY Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.