GRAVITY (NASDAQ:GRVY) Reaches New 12-Month High – Time to Buy?

GRAVITY Co., Ltd. (NASDAQ:GRVY) hit a new 52-week high on Friday . The stock traded as high as $75.50 and last traded at $75.16, with a volume of 33818 shares traded. The stock had previously closed at $73.03.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of GRAVITY from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, GRAVITY currently has an average rating of “Hold”.

GRAVITY Stock Up 2.9%

The firm’s 50 day simple moving average is $65.90 and its 200 day simple moving average is $63.71. The company has a market cap of $522.36 million, a price-to-earnings ratio of 9.22 and a beta of 1.03.

GRAVITY (NASDAQ:GRVY) last issued its quarterly earnings data on Friday, August 7th. The technology company reported $2.26 earnings per share (EPS) for the quarter. GRAVITY had a return on equity of 12.70% and a net margin of 14.92%.The business had revenue of $104.47 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Militia Capital Management LLC bought a new position in shares of GRAVITY in the first quarter worth $3,829,000. Ranmore Fund Management Ltd raised its stake in shares of GRAVITY by 55.7% during the fourth quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock valued at $8,087,000 after purchasing an additional 50,000 shares in the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in GRAVITY in the fourth quarter worth about $1,476,000. Two Sigma Investments LP lifted its holdings in GRAVITY by 64.0% in the third quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock worth $1,382,000 after purchasing an additional 8,427 shares during the period. Finally, Militia Capital Partners LP grew its position in GRAVITY by 16.1% in the 2nd quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock valued at $3,376,000 after buying an additional 7,344 shares in the last quarter. Institutional investors own 9.92% of the company’s stock.

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.