Gravity (NASDAQ:GRVY) Share Price Crosses Below 200 Day Moving Average of $69.26

Gravity Co., Ltd. (NASDAQ:GRVY)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $69.26 and traded as low as $66.47. Gravity shares last traded at $66.80, with a volume of 40,729 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Gravity from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th.

Gravity Trading Up 0.0 %

The firm has a market cap of $462.24 million, a price-to-earnings ratio of 4.62 and a beta of 0.87. The company has a 50 day moving average of $71.38 and a 200 day moving average of $69.22.

Hedge Funds Weigh In On Gravity

A number of large investors have recently added to or reduced their stakes in GRVY. BNP Paribas Arbitrage SNC increased its holdings in Gravity by 450.0% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 1,100 shares of the technology company’s stock worth $64,000 after purchasing an additional 900 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Gravity by 2,105.0% in the 1st quarter. Bank of America Corp DE now owns 1,323 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,263 shares in the last quarter. UBS Group AG grew its holdings in shares of Gravity by 1,366.4% in the 3rd quarter. UBS Group AG now owns 1,657 shares of the technology company’s stock valued at $78,000 after acquiring an additional 1,544 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Gravity by 80.5% in the 2nd quarter. Citigroup Inc. now owns 1,801 shares of the technology company’s stock valued at $126,000 after acquiring an additional 803 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Gravity by 24.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,212 shares of the technology company’s stock valued at $130,000 after acquiring an additional 640 shares in the last quarter. Institutional investors own 9.92% of the company’s stock.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and the United States. The company offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its mobile games portfolio includes Ragnarok M: Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; and Paladog Tactics.