Short Interest in GRAVITY Co., Ltd. (NASDAQ:GRVY) Increases By 36.9%

GRAVITY Co., Ltd. (NASDAQ:GRVY) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 17,224 shares, a growth of 36.9% from the November 30th total of 12,585 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 20,153 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 20,153 shares, the short-interest ratio is currently 0.9 days. Approximately 0.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GRAVITY in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its position in GRAVITY by 160.9% during 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. GAMMA Investing LLC boosted its stake in shares of GRAVITY by 120.8% during the 2nd quarter. GAMMA Investing LLC now owns 563 shares of the technology company’s stock worth $36,000 after acquiring an additional 308 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of GRAVITY during the 3rd quarter worth approximately $78,000. Bank of America Corp DE grew its holdings in shares of GRAVITY by 11.3% in the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock worth $177,000 after acquiring an additional 282 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new position in GRAVITY in the 1st quarter valued at approximately $212,000. Institutional investors and hedge funds own 9.92% of the company’s stock.

GRAVITY Stock Performance

GRAVITY stock traded down $0.74 during midday trading on Tuesday, hitting $56.58. 16,293 shares of the company’s stock were exchanged, compared to its average volume of 16,772. The stock has a market cap of $393.23 million, a price-to-earnings ratio of 7.13 and a beta of 0.98. GRAVITY has a 12-month low of $53.12 and a 12-month high of $70.00. The firm’s 50 day simple moving average is $57.55 and its 200 day simple moving average is $61.26.

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

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.