GRAVITY (NASDAQ:GRVY) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

GRAVITY Co., Ltd. (NASDAQ:GRVY) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $62.40 and traded as high as $64.74. GRAVITY shares last traded at $64.33, with a volume of 39,611 shares traded.

GRAVITY Stock Performance

The company has a 50-day simple moving average of $62.40 and a 200-day simple moving average of $61.66. The company has a market cap of $447.03 million, a price-to-earnings ratio of 8.81 and a beta of 0.99.

GRAVITY (NASDAQ:GRVY) last announced its quarterly earnings results on Friday, April 10th. The technology company reported $1.07 EPS for the quarter. The business had revenue of $78.53 million for the quarter. GRAVITY had a return on equity of 11.44% and a net margin of 12.63%.

Institutional Investors Weigh In On GRAVITY

Several institutional investors have recently modified their holdings of GRVY. Militia Capital Management LLC purchased a new stake in shares of GRAVITY during the 1st quarter worth approximately $3,829,000. Ranmore Fund Management Ltd boosted its stake in shares of GRAVITY by 55.7% during the 4th quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock worth $8,087,000 after acquiring an additional 50,000 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of GRAVITY during the 4th quarter worth approximately $1,476,000. Two Sigma Investments LP boosted its stake in shares of GRAVITY by 64.0% during the 3rd quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock worth $1,382,000 after acquiring an additional 8,427 shares in the last quarter. Finally, Militia Capital Partners LP boosted its stake in shares of GRAVITY by 16.1% during the 2nd quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock worth $3,376,000 after acquiring an additional 7,344 shares in the last quarter. Hedge funds and other institutional investors own 9.92% of the company’s stock.

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.