GRAVITY (NASDAQ:GRVY) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

GRAVITY Co., Ltd. (NASDAQ:GRVY)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $63.04 and traded as high as $64.00. GRAVITY shares last traded at $62.44, with a volume of 23,056 shares.

GRAVITY Stock Performance

The company has a market cap of $433.96 million, a PE ratio of 8.55 and a beta of 1.01. The company’s 50-day simple moving average is $63.04 and its 200 day simple moving average is $63.07.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GRVY. Ranmore Fund Management Ltd grew its stake in 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 purchasing an additional 50,000 shares in the last quarter. Militia Capital Management LLC purchased a new position in shares of GRAVITY in the 1st quarter valued at about $3,829,000. Militia Capital Partners LP boosted its stake in shares of GRAVITY by 1.3% in the 4th quarter. Militia Capital Partners LP now owns 58,737 shares of the technology company’s stock valued at $3,399,000 after buying an additional 737 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of GRAVITY during the fourth quarter worth about $1,476,000. Finally, Two Sigma Investments LP grew its position in shares of GRAVITY by 64.0% during the third quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock worth $1,382,000 after buying an additional 8,427 shares in the last quarter. 9.92% of the stock is owned by institutional investors and hedge funds.

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.