Gravity (NASDAQ:GRVY) Sees Large Volume Increase

Gravity Co., Ltd. (NASDAQ:GRVY) shares saw unusually-high trading volume on Tuesday . Approximately 9,071 shares were traded during mid-day trading, a decline of 74% from the previous session’s volume of 34,328 shares.The stock last traded at $82.00 and had previously closed at $80.31.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

Gravity Stock Up 1.4 %

The company has a market capitalization of $565.79 million, a price-to-earnings ratio of 6.07 and a beta of 1.41. The business has a 50-day moving average price of $77.08 and a 200-day moving average price of $72.46.

Gravity (NASDAQ:GRVY) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $2.87 EPS for the quarter. Gravity had a net margin of 16.96% and a return on equity of 46.65%. The business had revenue of $119.78 million during the quarter.

Institutional Trading of Gravity

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in shares of Gravity by 29.5% in the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock worth $17,689,000 after buying an additional 53,195 shares during the last quarter. DGS Capital Management LLC lifted its position in shares of Gravity by 175.5% during the 1st quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock worth $820,000 after buying an additional 6,882 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Gravity by 112.1% in the 4th quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock valued at $779,000 after purchasing an additional 5,920 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Gravity by 15.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after buying an additional 458 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Gravity by 20.7% in the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock worth $183,000 after purchasing an additional 453 shares in the last quarter. 9.92% of the stock is owned by hedge funds and other 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.