Short Interest in GRAVITY Co., Ltd. (NASDAQ:GRVY) Decreases By 35.5%

GRAVITY Co., Ltd. (NASDAQ:GRVY) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 36,119 shares, a decline of 35.5% from the June 30th total of 56,031 shares. Based on an average trading volume of 36,909 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the shares of the company are short sold.

GRAVITY Stock Performance

NASDAQ:GRVY opened at $61.95 on Friday. The stock has a market cap of $430.49 million, a price-to-earnings ratio of 8.49 and a beta of 1.01. GRAVITY has a 1 year low of $54.54 and a 1 year high of $74.75. The business has a fifty day moving average of $62.71 and a 200-day moving average of $63.33.

Hedge Funds Weigh In On GRAVITY

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in GRAVITY by 11.3% during the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock valued at $177,000 after buying an additional 282 shares during the period. Signaturefd LLC raised its position in shares of GRAVITY by 63.4% during the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock worth $55,000 after buying an additional 372 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of GRAVITY by 133.4% in the 4th quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock worth $47,000 after acquiring an additional 467 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 596 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of GRAVITY by 49.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,822 shares of the technology company’s stock valued at $105,000 after acquiring an additional 603 shares in the last quarter. Institutional investors own 9.92% of the company’s stock.

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.