Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY – Get Free Report) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $69.09 and traded as low as $67.07. GRAVITY shares last traded at $68.27, with a volume of 24,283 shares traded.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold”.
Get Our Latest Analysis on GRVY
GRAVITY Stock Performance
The firm has a market capitalization of $474.48 million, a price-to-earnings ratio of 8.38 and a beta of 0.95. The company has a 50 day moving average price of $69.09 and a two-hundred day moving average price of $65.14.
GRAVITY (NASDAQ:GRVY – Get Free Report) last released its quarterly 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 for the quarter. GRAVITY had a net margin of 14.92% and a return on equity of 12.70%.
Hedge Funds Weigh In On GRAVITY
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Militia Capital Management LLC acquired a new stake in shares of GRAVITY in the first quarter valued at about $3,829,000. GAMMA Investing LLC raised its position in shares of GRAVITY by 126.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,252 shares of the technology company’s stock worth $286,000 after purchasing an additional 2,374 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of GRAVITY during the 1st quarter worth about $229,000. Royal Bank of Canada lifted its stake in GRAVITY by 231.6% in the 1st quarter. Royal Bank of Canada now owns 2,709 shares of the technology company’s stock valued at $168,000 after buying an additional 1,892 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in GRAVITY in the 3rd quarter valued at about $27,000. 9.92% of the stock is owned by hedge funds and other institutional investors.
About GRAVITY
Gravity Co, Ltd. is a South Korean online and mobile game developer and publisher headquartered in Seoul. Founded in 2000, the company is best known for the Ragnarok franchise, which is based on the comic series “Ragnarok” and has become one of its principal intellectual properties.
Gravity’s products include massively multiplayer online role-playing games, mobile games and other interactive entertainment titles. Its portfolio includes “Ragnarok Online,” “Ragnarok Online II,” “Ragnarok M: Eternal Love,” “Ragnarok Origin” and “Ragnarok X: Next Generation,” along with related games and franchise adaptations for personal computers, mobile devices and other platforms.
The company distributes its games directly and through regional publishing and licensing arrangements.
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