GRAVITY (NASDAQ:GRVY) Sees Unusually-High Trading Volume – Still a Buy?

GRAVITY Co., Ltd. (NASDAQ:GRVY) saw unusually-strong trading volume on Friday . 59,457 shares traded hands during trading, an increase of 50% from the previous session’s volume of 39,658 shares.The stock last traded at $72.5950 and had previously closed at $72.83.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

GRAVITY Price Performance

The firm has a market cap of $501.44 million, a P/E ratio of 8.85 and a beta of 1.04. The firm’s 50 day moving average is $66.49 and its 200 day moving average is $63.91.

GRAVITY (NASDAQ:GRVY) last released its earnings results on Friday, August 7th. The technology company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $104.47 million during the quarter. GRAVITY had a net margin of 14.92% and a return on equity of 12.70%.

Hedge Funds Weigh In On GRAVITY

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in GRAVITY by 19,866.7% during the 4th quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock worth $35,000 after acquiring an additional 596 shares during the period. Royal Bank of Canada grew its stake in GRAVITY by 133.4% during the fourth quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock valued at $47,000 after acquiring an additional 467 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in GRAVITY in the 4th quarter valued at $62,000. Quadrant Capital Group LLC purchased a new stake in GRAVITY in the 3rd quarter worth $78,000. Finally, Sandia Investment Management LP purchased a new stake in GRAVITY in the 4th quarter worth $142,000. Institutional investors own 9.92% of the company’s stock.

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.