Gravity (NASDAQ:GRVY) Shares Cross Below 200-Day Moving Average – Time to Sell?

Gravity Co., Ltd. (NASDAQ:GRVY) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $62.46 and traded as low as $55.49. Gravity shares last traded at $56.50, with a volume of 12,770 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Gravity Stock Up 0.7 %

The stock has a market capitalization of $392.62 million, a P/E ratio of 6.29 and a beta of 1.29. The business has a 50-day simple moving average of $60.85 and a two-hundred day simple moving average of $62.46.

Institutional Investors Weigh In On Gravity

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in Gravity by 143.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,828 shares of the technology company’s stock worth $305,000 after buying an additional 2,846 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Gravity in the 4th quarter worth approximately $278,000. Two Sigma Investments LP grew its position in Gravity by 67.8% during the 4th quarter. Two Sigma Investments LP now owns 16,716 shares of the technology company’s stock worth $1,055,000 after acquiring an additional 6,754 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Gravity during the 4th quarter valued at $204,000. Finally, Apis Capital Advisors LLC raised its position in Gravity by 7.5% in the 4th quarter. Apis Capital Advisors LLC now owns 20,000 shares of the technology company’s stock valued at $1,262,000 after purchasing an additional 1,400 shares during the last quarter. 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.