GRAVITY (NASDAQ:GRVY) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

GRAVITY Co., Ltd. (NASDAQ:GRVY)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $68.29 and traded as high as $73.96. GRAVITY shares last traded at $70.80, with a volume of 70,391 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of “Hold”.

GRAVITY Trading Up 5.0%

The stock has a market capitalization of $491.99 million, a price-to-earnings ratio of 8.69 and a beta of 0.95. The stock’s 50 day moving average is $68.29 and its 200 day moving average is $65.36.

GRAVITY (NASDAQ:GRVY) last posted its quarterly earnings data on Friday, November 13th. The technology company reported $2.27 earnings per share for the quarter. The business had revenue of $145.19 million during the quarter. GRAVITY had a net margin of 14.92% and a return on equity of 12.70%.

Institutional Trading of GRAVITY

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners boosted its stake in shares of GRAVITY by 72.0% in the third quarter. Boston Partners now owns 42,037 shares of the technology company’s stock valued at $2,808,000 after purchasing an additional 17,599 shares during the period. Allworth Financial LP grew its holdings in GRAVITY by 38.8% during the 3rd quarter. Allworth Financial LP now owns 747 shares of the technology company’s stock valued at $50,000 after purchasing an additional 209 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in GRAVITY during the 3rd quarter valued at $27,000. GAMMA Investing LLC increased its stake in 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 buying an additional 2,374 shares during the period. Finally, Royal Bank of Canada increased its stake in GRAVITY by 231.6% during the 1st quarter. Royal Bank of Canada now owns 2,709 shares of the technology company’s stock worth $168,000 after buying an additional 1,892 shares during the period. 9.92% of the stock is owned by hedge funds and other institutional investors.

About GRAVITY

GRAVITY Co., Ltd. is a South Korean game developer and publisher founded in 2000 and headquartered in Seoul. The company develops and distributes online and mobile games, with a portfolio centered on the Ragnarok franchise. Its best-known title is the massively multiplayer online role-playing game Ragnarok Online. The franchise also includes mobile and online games such as Ragnarok M: Eternal Love, Ragnarok Origin and Ragnarok X: Next Generation. GRAVITY serves players in South Korea and international markets through its own operations, subsidiaries and publishing or licensing partners.