GRAVITY Co., Ltd. (NASDAQ:GRVY) Short Interest Down 32.5% in August

GRAVITY Co., Ltd. (NASDAQ:GRVY) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 23,083 shares, a drop of 32.5% from the July 30th total of 34,199 shares. Based on an average daily trading volume, of 67,761 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised 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, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

GRAVITY Price Performance

GRAVITY stock opened at $72.90 on Wednesday. GRAVITY has a 12-month low of $54.54 and a 12-month high of $76.00. The company has a market capitalization of $506.66 million, a price-to-earnings ratio of 8.94 and a beta of 1.04. The firm’s fifty day moving average price is $66.30 and its 200 day moving average price is $63.83.

GRAVITY (NASDAQ:GRVY) last issued its quarterly earnings data on Friday, August 7th. The technology company reported $2.26 EPS for the quarter. The firm had revenue of $104.47 million for the quarter. GRAVITY had a net margin of 14.92% and a return on equity of 12.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Militia Capital Management LLC acquired a new stake in GRAVITY during the 1st quarter valued at approximately $3,829,000. Ranmore Fund Management Ltd raised its position in shares of GRAVITY by 55.7% in the 4th quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock valued at $8,087,000 after purchasing an additional 50,000 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of GRAVITY during the 4th quarter valued at 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 valued at $1,382,000 after buying an additional 8,427 shares during the last quarter. Finally, Militia Capital Partners LP grew its position in shares of GRAVITY by 16.1% during the second quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock worth $3,376,000 after buying an additional 7,344 shares in the last quarter. Institutional investors and hedge funds 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.