GRAVITY Co., Ltd. (NASDAQ:GRVY) Short Interest Update

GRAVITY Co., Ltd. (NASDAQ:GRVY) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 23,083 shares, a decrease of 32.5% from the July 30th total of 34,199 shares. Based on an average daily volume of 67,761 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the company’s stock are sold short.

GRAVITY Stock Down 1.4%

Shares of NASDAQ:GRVY opened at $71.87 on Thursday. The company has a market capitalization of $499.50 million, a P/E ratio of 8.82 and a beta of 1.04. GRAVITY has a 52-week low of $54.54 and a 52-week high of $76.00. The stock’s fifty day simple moving average is $66.37 and its 200-day simple moving average is $63.86.

GRAVITY (NASDAQ:GRVY) last posted its earnings results on Friday, August 7th. The technology company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $104.47 million during the quarter. GRAVITY had a net margin of 14.92% and a return on equity of 12.70%.

Institutional Investors Weigh In On GRAVITY

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in GRAVITY by 19,866.7% in the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock worth $35,000 after purchasing an additional 596 shares in the last quarter. Royal Bank of Canada lifted its holdings in GRAVITY by 133.4% during the 4th quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock worth $47,000 after buying an additional 467 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of GRAVITY in the 4th quarter worth approximately $62,000. Quadrant Capital Group LLC bought a new stake in shares of GRAVITY in the 3rd quarter valued at approximately $78,000. Finally, Sandia Investment Management LP bought a new stake in shares of GRAVITY in the 4th quarter valued at approximately $142,000. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

GRAVITY Company Profile

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role?playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company’s product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.