Gravity (NASDAQ:GRVY) Sees Strong Trading Volume

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) saw unusually-high trading volume on Thursday . Approximately 14,653 shares were traded during mid-day trading, a decline of 51% from the previous session’s volume of 29,710 shares.The stock last traded at $75.00 and had previously closed at $72.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gravity from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th.

Gravity Stock Performance

The business’s fifty day moving average is $69.70 and its 200-day moving average is $69.02. The firm has a market cap of $527.99 million, a P/E ratio of 4.63 and a beta of 0.89.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC raised 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 during the last quarter. Bank of America Corp DE raised its holdings in Gravity by 2,105.0% during the 1st quarter. Bank of America Corp DE now owns 1,323 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,263 shares during the last quarter. UBS Group AG raised its holdings in Gravity by 1,366.4% during the 3rd quarter. UBS Group AG now owns 1,657 shares of the technology company’s stock worth $78,000 after purchasing an additional 1,544 shares during the last quarter. Citigroup Inc. raised its holdings in Gravity by 80.5% during the 2nd quarter. Citigroup Inc. now owns 1,801 shares of the technology company’s stock worth $126,000 after purchasing an additional 803 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Gravity by 78.9% during the 3rd quarter. New York State Common Retirement Fund now owns 2,184 shares of the technology company’s stock worth $151,000 after purchasing an additional 963 shares during 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.