GRAVITY Co., Ltd. (NASDAQ:GRVY – Get Free Report)’s stock price traded up 8.8% during trading on Friday. The company traded as high as $71.36 and last traded at $73.3250. Approximately 11,816 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 36,474 shares. The stock had previously closed at $67.41.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold”.
View Our Latest Analysis on GRAVITY
GRAVITY Trading Up 7.9%
The company has a market cap of $505.64 million, a PE ratio of 8.98 and a beta of 0.95. The firm has a fifty day moving average of $68.33 and a two-hundred day moving average of $65.33.
GRAVITY (NASDAQ:GRVY – Get Free Report) last posted its quarterly earnings results on Friday, November 13th. The technology company reported $2.27 EPS for the quarter. GRAVITY had a return on equity of 12.70% and a net margin of 14.92%. The firm had revenue of $145.19 million during the quarter.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Militia Capital Management LLC purchased a new position in GRAVITY during the first quarter valued at approximately $3,829,000. Boston Partners increased its holdings in GRAVITY by 72.0% during the 3rd quarter. Boston Partners now owns 42,037 shares of the technology company’s stock worth $2,808,000 after acquiring an additional 17,599 shares during the period. Allworth Financial LP increased its holdings in GRAVITY by 38.8% during the 3rd quarter. Allworth Financial LP now owns 747 shares of the technology company’s stock worth $50,000 after acquiring an additional 209 shares during the period. Ramsey Quantitative Systems bought a new stake in GRAVITY during the 3rd quarter worth approximately $27,000. Finally, Royal Bank of Canada lifted its stake in GRAVITY by 231.6% in the 1st quarter. Royal Bank of Canada now owns 2,709 shares of the technology company’s stock worth $168,000 after purchasing an additional 1,892 shares in the last quarter. Hedge funds and other institutional investors own 9.92% of the company’s stock.
GRAVITY Company Profile
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.
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