GRAVITY (NASDAQ:GRVY) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

GRAVITY Co., Ltd. (NASDAQ:GRVY)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $62.84 and traded as low as $61.80. GRAVITY shares last traded at $63.23, with a volume of 19,302 shares.

GRAVITY Stock Performance

The business’s fifty day moving average price is $62.84 and its two-hundred day moving average price is $62.81. The firm has a market capitalization of $439.45 million, a P/E ratio of 8.66 and a beta of 1.01.

GRAVITY (NASDAQ:GRVY) last posted its earnings results on Friday, April 10th. The technology company reported $1.07 EPS for the quarter. The company had revenue of $78.53 million during the quarter. GRAVITY had a net margin of 12.63% and a return on equity of 11.44%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of GRAVITY during the fourth quarter worth about $1,476,000. Farther Finance Advisors LLC increased its stake in shares of GRAVITY by 19,866.7% in the fourth quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock worth $35,000 after acquiring an additional 596 shares during the period. JPMorgan Chase & Co. grew its position in GRAVITY by 76.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,094 shares of the technology company’s stock worth $390,000 after purchasing an additional 2,637 shares during the period. Signaturefd LLC raised its position in GRAVITY by 63.4% during the fourth quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock valued at $55,000 after acquiring an additional 372 shares in the last quarter. Finally, Militia Capital Partners LP increased its holdings in shares of GRAVITY by 9.4% during the 3rd quarter. Militia Capital Partners LP now owns 58,000 shares of the technology company’s stock valued at $3,712,000 after purchasing an additional 5,000 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

GRAVITY Company Profile

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.