Gravity (NASDAQ:GRVY) Sees Strong Trading Volume

Gravity Co., Ltd. (NASDAQ:GRVY) saw unusually-high trading volume on Monday . Approximately 36,089 shares were traded during mid-day trading, an increase of 6% from the previous session’s volume of 34,154 shares.The stock last traded at $80.15 and had previously closed at $80.75.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

Gravity Price Performance

The stock has a market capitalization of $553.78 million, a PE ratio of 6.02 and a beta of 1.41. The company has a 50 day moving average price of $76.02 and a 200-day moving average price of $72.21.

Gravity (NASDAQ:GRVY) last posted its earnings results on Thursday, May 9th. The technology company reported $2.87 earnings per share (EPS) for the quarter. Gravity had a return on equity of 46.65% and a net margin of 16.96%. The firm had revenue of $119.78 million for the quarter.

Hedge Funds Weigh In On Gravity

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Gravity by 68.9% during the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after purchasing an additional 131 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Gravity by 20.7% in the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock worth $183,000 after buying an additional 453 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Gravity by 15.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after purchasing an additional 458 shares in the last quarter. Jump Financial LLC increased its position in Gravity by 12.0% in the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock worth $258,000 after buying an additional 398 shares in the last quarter. Finally, DGS Capital Management LLC bought a new position in shares of Gravity during the 4th quarter valued at approximately $273,000. 9.92% of the stock is owned by hedge funds and other institutional investors.

About Gravity

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and the United States. The company offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its mobile games portfolio includes Ragnarok M: Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; and Paladog Tactics.