Gravity (NASDAQ:GRVY) Stock Price Up 9.3%

Gravity Co., LTD. (NASDAQ:GRVY)’s stock price rose 9.3% on Friday . The stock traded as high as $38.37 and last traded at $36.43, approximately 54,835 shares changed hands during trading. A decline of 12% from the average daily volume of 62,609 shares. The stock had previously closed at $33.33.

GRVY has been the topic of several research analyst reports. ValuEngine cut Gravity from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub cut Gravity from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 9th. Finally, TheStreet cut Gravity from a “b-” rating to a “c+” rating in a research note on Tuesday, August 20th.

The company has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $53.29. The company has a market cap of $253.12 million, a PE ratio of 4.65 and a beta of -1.71.

Gravity (NASDAQ:GRVY) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $1.40 EPS for the quarter. The business had revenue of $67.67 million during the quarter. Gravity had a return on equity of 61.46% and a net margin of 14.06%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in shares of Gravity in the 2nd quarter valued at approximately $304,000. Cubist Systematic Strategies LLC bought a new stake in shares of Gravity in the 2nd quarter valued at approximately $315,000. Morgan Stanley grew its stake in shares of Gravity by 1.1% in the 2nd quarter. Morgan Stanley now owns 294,402 shares of the technology company’s stock valued at $13,586,000 after buying an additional 3,271 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Gravity in the 2nd quarter valued at approximately $777,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Gravity in the 2nd quarter valued at approximately $25,000. 8.79% of the stock is owned by institutional investors and hedge funds.

Gravity Company Profile (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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