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

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of GRAVITY in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GRVY. Sandia Investment Management LP purchased a new stake in GRAVITY during the 4th quarter worth approximately $142,000. Royal Bank of Canada lifted its position in shares of 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 buying an additional 467 shares during the last quarter. Militia Capital Partners LP grew its position in shares of GRAVITY by 1.3% in the 4th quarter. Militia Capital Partners LP now owns 58,737 shares of the technology company’s stock valued at $3,399,000 after buying an additional 737 shares during the last quarter. Ranmore Fund Management Ltd raised its holdings in GRAVITY by 55.7% during the fourth quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock worth $8,087,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of GRAVITY by 39.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,698 shares of the technology company’s stock valued at $793,000 after buying an additional 3,845 shares during the period. Hedge funds and other institutional investors own 9.92% of the company’s stock.

GRAVITY Stock Down 3.0%

Shares of NASDAQ:GRVY opened at $64.75 on Monday. The business has a 50-day moving average price of $63.41 and a 200-day moving average price of $61.57. GRAVITY has a 52-week low of $53.12 and a 52-week high of $74.75. The stock has a market cap of $449.95 million, a price-to-earnings ratio of 8.22 and a beta of 0.98.

GRAVITY (NASDAQ:GRVY) last posted its quarterly earnings data 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.

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.