Short Interest in GRAVITY Co., Ltd. (NASDAQ:GRVY) Decreases By 22.9%

GRAVITY Co., Ltd. (NASDAQ:GRVY) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 23,540 shares, a decrease of 22.9% from the January 29th total of 30,516 shares. Based on an average daily volume of 35,908 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 35,908 shares, the short-interest ratio is presently 0.7 days.

GRAVITY Stock Up 3.0%

Shares of GRVY stock traded up $1.86 during mid-day trading on Wednesday, reaching $64.50. 34,190 shares of the stock traded hands, compared to its average volume of 27,701. GRAVITY has a 1-year low of $53.12 and a 1-year high of $74.75. The company has a market cap of $448.28 million, a price-to-earnings ratio of 8.13 and a beta of 1.04. The stock’s fifty day simple moving average is $63.70 and its two-hundred day simple moving average is $61.53.

GRAVITY (NASDAQ:GRVY) last issued its earnings results on Friday, November 7th. The technology company reported $2.04 earnings per share (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 for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of GRAVITY in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On GRAVITY

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in shares of GRAVITY by 19,866.7% in the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock worth $35,000 after purchasing an additional 596 shares during the last quarter. GAMMA Investing LLC lifted its stake in GRAVITY by 38.2% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the technology company’s stock valued at $50,000 after acquiring an additional 215 shares in the last quarter. Royal Bank of Canada boosted its holdings in GRAVITY by 133.4% during the 4th quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock worth $47,000 after acquiring an additional 467 shares during the last quarter. Signaturefd LLC grew its stake in shares of GRAVITY by 63.4% in the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock worth $55,000 after acquiring an additional 372 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of GRAVITY in the fourth quarter valued at about $62,000. Institutional investors own 9.92% of the company’s stock.

About GRAVITY

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.