GRAVITY (NASDAQ:GRVY) Stock Price Up 8.8% – What’s Next?

Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY) traded up 8.8% during mid-day trading on Friday. The company traded as high as $71.36 and last traded at $73.3250. 11,816 shares traded hands during trading, a decline of 68% from the average session volume of 36,474 shares. The stock had previously closed at $67.41.

Analyst Ratings Changes

Separately, Weiss Ratings raised GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, GRAVITY presently has an average rating of “Hold”.

GRAVITY Price Performance

The firm has a market cap of $491.99 million, a PE ratio of 8.69 and a beta of 0.95. The stock’s fifty day simple moving average is $68.29 and its 200-day simple moving average is $65.36.

GRAVITY (NASDAQ:GRVY) last posted its quarterly earnings results on Friday, November 13th. The technology company reported $2.27 earnings per share for the quarter. GRAVITY had a return on equity of 12.70% and a net margin of 14.92%. The business had revenue of $145.19 million for the quarter.

Hedge Funds Weigh In On GRAVITY

Several institutional investors and hedge funds have recently modified their holdings of the stock. Militia Capital Management LLC acquired a new position in shares of GRAVITY in the first quarter worth about $3,829,000. Boston Partners raised its holdings in shares of GRAVITY by 72.0% during the third quarter. Boston Partners now owns 42,037 shares of the technology company’s stock valued at $2,808,000 after acquiring an additional 17,599 shares during the last quarter. Renaissance Technologies LLC acquired a new position in GRAVITY in the 1st quarter valued at $229,000. Entropy Technologies LP purchased a new position in GRAVITY in the 3rd quarter valued at $246,000. Finally, GAMMA Investing LLC lifted its holdings in GRAVITY by 126.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,252 shares of the technology company’s stock valued at $286,000 after purchasing an additional 2,374 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 Korean game developer and publisher founded in 2000 and headquartered in Seoul. The company develops and distributes online and mobile games, with a portfolio centered on the Ragnarok franchise. Its best-known title is the massively multiplayer online role-playing game Ragnarok Online. The franchise also includes mobile and online games such as Ragnarok M: Eternal Love, Ragnarok Origin and Ragnarok X: Next Generation. GRAVITY serves players in South Korea and international markets through its own operations, subsidiaries and publishing or licensing partners.