Gravity (NASDAQ:GRVY) Shares Cross Above 50 Day Moving Average of $36.45

Gravity Co., LTD. (NASDAQ:GRVY) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $36.45 and traded as high as $30.92. Gravity shares last traded at $30.25, with a volume of 1,394 shares changing hands.

A number of equities analysts recently issued reports on GRVY shares. ValuEngine lowered shares of Gravity from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub lowered shares of Gravity from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 9th. Finally, TheStreet lowered shares of Gravity from a “b-” rating to a “c+” rating in a research report on Tuesday, August 20th.

The company’s 50-day moving average price is $36.20 and its two-hundred day moving average price is $55.95. The company has a market cap of $208.44 million, a P/E ratio of 4.28 and a beta of -1.88.

Large investors have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Gravity by 1.1% in the second quarter. Morgan Stanley now owns 294,402 shares of the technology company’s stock worth $13,586,000 after buying an additional 3,271 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Gravity by 126.0% in the second quarter. Acadian Asset Management LLC now owns 70,071 shares of the technology company’s stock worth $3,236,000 after buying an additional 39,065 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Gravity by 20.0% in the second quarter. Handelsbanken Fonder AB now owns 18,000 shares of the technology company’s stock worth $831,000 after buying an additional 3,000 shares during the period. BlackRock Inc. acquired a new position in shares of Gravity in the second quarter worth about $777,000. Finally, Navellier & Associates Inc boosted its holdings in shares of Gravity by 23.2% in the second quarter. Navellier & Associates Inc now owns 13,255 shares of the technology company’s stock worth $612,000 after buying an additional 2,496 shares during the period. Institutional investors own 8.97% of the company’s stock.

About Gravity (NASDAQ:GRVY)

Gravity Co, Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation.

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