GRAVITY (NASDAQ:GRVY) Sets New 1-Year High – Time to Buy?

GRAVITY Co., Ltd. (NASDAQ:GRVY)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $75.50 and last traded at $75.16, with a volume of 33818 shares traded. The stock had previously closed at $73.03.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

GRAVITY Stock Performance

The company has a fifty day simple moving average of $66.10 and a two-hundred day simple moving average of $63.79. The firm has a market capitalization of $522.36 million, a PE ratio of 9.22 and a beta of 1.03.

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

Hedge Funds Weigh In On GRAVITY

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in GRAVITY by 13.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,644 shares of the technology company’s stock worth $644,000 after buying an additional 1,248 shares in the last quarter. JPMorgan Chase & Co. boosted its position in GRAVITY by 1,052.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,457 shares of the technology company’s stock valued at $220,000 after acquiring an additional 3,157 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of GRAVITY by 11.3% in the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock valued at $177,000 after acquiring an additional 282 shares during the period. Militia Capital Partners LP raised its position in shares of GRAVITY by 16.1% in 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. Finally, Quadrant Capital Group LLC purchased a new stake in shares of GRAVITY during the 3rd quarter worth $78,000. 9.92% of the stock is currently owned by institutional investors.

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.