Gravity Co., Ltd. (NASDAQ:GRVY) Short Interest Up 47.1% in July

Gravity Co., Ltd. (NASDAQ:GRVY) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 5,000 shares, an increase of 47.1% from the June 30th total of 3,400 shares. Based on an average trading volume of 36,200 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Gravity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DGS Capital Management LLC acquired a new position in shares of Gravity during the fourth quarter worth $273,000. New York State Common Retirement Fund increased its stake in shares of 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 valued at $183,000 after buying an additional 453 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Gravity by 112.1% in the fourth quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock valued at $779,000 after buying an additional 5,920 shares during the period. Jump Financial LLC raised its position in shares of Gravity by 12.0% during 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 last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Gravity by 15.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock valued at $234,000 after acquiring an additional 458 shares during the last quarter. 9.92% of the stock is currently owned by institutional investors and hedge funds.

Gravity Price Performance

Shares of NASDAQ GRVY traded up $0.98 during mid-day trading on Monday, hitting $77.78. 11,664 shares of the stock traded hands, compared to its average volume of 33,205. Gravity has a twelve month low of $59.00 and a twelve month high of $88.85. The firm has a 50 day simple moving average of $79.33 and a two-hundred day simple moving average of $73.27. The company has a market cap of $540.57 million, a PE ratio of 5.80 and a beta of 1.41.

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

Analyst Ratings Changes

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

About Gravity

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.