GRAVITY (NASDAQ:GRVY) Stock Crosses Below 200-Day Moving Average – Here’s Why

Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $61.16 and traded as low as $60.35. GRAVITY shares last traded at $60.61, with a volume of 36,497 shares traded.

GRAVITY Stock Up 8.0%

The firm has a market capitalization of $454.95 million, a price-to-earnings ratio of 9.81 and a beta of 0.99. The business’s fifty day moving average is $62.30 and its 200 day moving average is $61.16.

GRAVITY (NASDAQ:GRVY) last released its earnings results on Friday, May 8th. The technology company reported $2.81 earnings per share (EPS) for the quarter. GRAVITY had a return on equity of 10.71% and a net margin of 11.94%.The firm had revenue of $107.61 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GRVY. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 467 shares in the last quarter. Militia Capital Partners LP lifted its position in shares of GRAVITY by 1.3% in the fourth quarter. Militia Capital Partners LP now owns 58,737 shares of the technology company’s stock worth $3,399,000 after purchasing an additional 737 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of GRAVITY by 49.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,822 shares of the technology company’s stock worth $105,000 after purchasing an additional 603 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in GRAVITY during the fourth quarter worth $62,000. Finally, Creative Planning acquired a new position in GRAVITY during the third quarter worth $216,000. 9.92% of the stock is currently owned by institutional investors.

About GRAVITY

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.