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.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on GRAVITY
GRAVITY Stock Performance
The company has a market cap of $474.48 million, a PE ratio of 8.38 and a beta of 0.95. The stock has a 50 day moving average of $69.09 and a 200-day moving average of $65.14.
GRAVITY (NASDAQ:GRVY – Get Free Report) last issued its earnings results on Friday, August 7th. The technology company reported $2.26 EPS for the quarter. GRAVITY had a return on equity of 12.70% and a net margin of 14.92%. The firm had revenue of $104.47 million for the quarter.
Institutional Investors Weigh In On GRAVITY
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRVY. Militia Capital Management LLC acquired a new position in shares of GRAVITY in the 1st quarter valued at about $3,829,000. GAMMA Investing LLC boosted its holdings in GRAVITY by 126.4% during the second 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 in the last quarter. Renaissance Technologies LLC purchased a new stake in GRAVITY during the first quarter worth $229,000. Royal Bank of Canada boosted its holdings in GRAVITY by 231.6% during the first 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 in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in GRAVITY during the third quarter valued at $27,000. 9.92% of the stock is owned by institutional investors and hedge funds.
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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