GRAVITY (NASDAQ:GRVY) Shares Pass Above 50-Day Moving Average – What’s Next?

GRAVITY Co., Ltd. (NASDAQ:GRVY) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $60.93 and traded as high as $70.98. GRAVITY shares last traded at $68.24, with a volume of 16,686 shares changing hands.

Analyst Ratings Changes

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

GRAVITY Stock Down 4.1%

The company has a market cap of $474.27 million, a price-to-earnings ratio of 8.61 and a beta of 0.98. The stock’s 50-day simple moving average is $60.93 and its 200 day simple moving average is $61.38.

GRAVITY (NASDAQ:GRVY) last released its quarterly earnings results on Friday, November 7th. The technology company reported $2.04 earnings per share (EPS) for the quarter. The business had revenue of $98.92 million for the quarter. GRAVITY had a net margin of 16.84% and a return on equity of 16.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of GRAVITY by 19,866.7% in the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock valued at $35,000 after buying an additional 596 shares in the last quarter. GAMMA Investing LLC boosted its holdings in GRAVITY by 38.2% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the technology company’s stock valued at $50,000 after acquiring an additional 215 shares during the period. Signaturefd LLC grew its position in GRAVITY by 63.4% in the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock valued at $55,000 after acquiring an additional 372 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in GRAVITY during the third quarter worth about $78,000. Finally, Bank of America Corp DE lifted its position in shares of GRAVITY by 11.3% during the second quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock worth $177,000 after purchasing an additional 282 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

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.