Gravity (NASDAQ:GRVY) Stock Price Crosses Below 200 Day Moving Average of $72.36

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $72.36 and traded as low as $58.53. Gravity shares last traded at $59.24, with a volume of 28,363 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Gravity from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

Gravity Price Performance

The company has a market capitalization of $411.66 million, a P/E ratio of 4.48 and a beta of 1.35. The firm has a fifty day moving average price of $67.73 and a 200-day moving average price of $72.35.

Gravity (NASDAQ:GRVY) last announced its quarterly earnings data on Friday, August 9th. The technology company reported $1.31 earnings per share for the quarter. Gravity had a return on equity of 37.85% and a net margin of 14.87%. The business had revenue of $89.33 million during the quarter.

Hedge Funds Weigh In On Gravity

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Gravity by 68.9% during the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. QRG Capital Management Inc. bought a new position in shares of Gravity in the second quarter worth $209,000. Jump Financial LLC boosted its holdings in shares of Gravity by 12.0% in the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock worth $258,000 after acquiring an additional 398 shares during the period. Creative Planning boosted its holdings in shares of Gravity by 7.3% in the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after acquiring an additional 260 shares during the period. Finally, Caprock Group LLC bought a new position in shares of Gravity in the second quarter worth $394,000. 9.92% of the stock is owned by institutional investors.

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.