Gravity (NASDAQ:GRVY) Share Price Crosses Below Two Hundred Day Moving Average of $72.36

Gravity Co., Ltd. (NASDAQ:GRVY)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $72.36 and traded as low as $58.53. Gravity shares last traded at $59.24, with a volume of 28,363 shares.

Analyst Ratings Changes

Separately, StockNews.com lowered Gravity from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Gravity Price Performance

The company has a market cap of $411.66 million, a price-to-earnings ratio of 4.48 and a beta of 1.35. The business has a 50 day simple moving average of $67.73 and a 200 day simple moving average of $72.36.

Gravity (NASDAQ:GRVY) last issued its quarterly earnings results on Friday, August 9th. The technology company reported $1.31 earnings per share (EPS) for the quarter. Gravity had a return on equity of 37.85% and a net margin of 14.87%. The business had revenue of $89.33 million for the quarter.

Hedge Funds Weigh In On Gravity

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its stake in shares of Gravity by 29.5% during the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock valued at $17,689,000 after acquiring an additional 53,195 shares during the period. Apis Capital Advisors LLC lifted its stake in shares of Gravity by 88.9% during the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock valued at $1,373,000 after acquiring an additional 8,000 shares during the period. BNP Paribas Financial Markets increased its holdings in Gravity by 41.1% in the first quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 4,600 shares during the last quarter. DGS Capital Management LLC lifted its stake in Gravity by 175.5% in the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock valued at $820,000 after buying an additional 6,882 shares during the period. Finally, Caprock Group LLC acquired a new position in Gravity in the second quarter valued at about $394,000. Institutional investors and hedge funds own 9.92% of the company’s stock.

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.