GRAVITY (NASDAQ:GRVY) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

A number of research analysts have issued reports on GRVY shares. Weiss Ratings restated a “hold (c)” rating on shares of GRAVITY in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of GRAVITY from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

GRAVITY Trading Down 1.2%

The company has a market capitalization of $403.74 million, a P/E ratio of 6.97 and a beta of 1.28. The business has a 50 day moving average price of $60.94 and a 200 day moving average price of $62.74.

Hedge Funds Weigh In On GRAVITY

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased 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 acquiring an additional 288 shares in the last quarter. GAMMA Investing LLC grew its position in shares of GRAVITY by 120.8% in the 2nd quarter. GAMMA Investing LLC now owns 563 shares of the technology company’s stock valued at $36,000 after purchasing an additional 308 shares during the period. Quadrant Capital Group LLC bought a new stake in GRAVITY during the 3rd quarter worth approximately $78,000. Bank of America Corp DE raised its holdings in GRAVITY by 11.3% during the 2nd 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 period. Finally, Wealthquest Corp bought a new position in GRAVITY in the first quarter valued at approximately $202,000. 9.92% of the stock is owned by institutional investors.

About GRAVITY

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.