Gravity Co., Ltd. (NASDAQ:GRVY) Sees Large Decline in Short Interest

Gravity Co., Ltd. (NASDAQ:GRVY) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 8,200 shares, a decline of 14.6% from the September 15th total of 9,600 shares. Based on an average daily volume of 30,100 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

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

Gravity Trading Up 4.3 %

GRVY stock traded up $2.48 on Wednesday, hitting $59.98. 83,933 shares of the company’s stock traded hands, compared to its average volume of 33,267. The stock has a market cap of $416.80 million, a price-to-earnings ratio of 4.53 and a beta of 1.35. Gravity has a 1-year low of $57.37 and a 1-year high of $88.85. The stock has a fifty day moving average of $61.67 and a 200-day moving average of $70.60.

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

Institutional Investors Weigh In On Gravity

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its stake in Gravity by 29.5% in the 1st quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock worth $17,689,000 after acquiring an additional 53,195 shares in the last quarter. Apis Capital Advisors LLC lifted its position in shares of Gravity by 88.9% in the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 8,000 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Gravity by 41.1% during the first quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 4,600 shares during the period. DGS Capital Management LLC grew its position in Gravity by 175.5% during the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock valued at $820,000 after purchasing an additional 6,882 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Gravity in the 2nd quarter valued at approximately $394,000. Institutional investors and hedge funds own 9.92% of the company’s stock.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.