Gravity Co., Ltd. (NASDAQ:GRVY – Get Rating) was the target of a major drop in short-term interest rates in August. On August 15, there was short-term interest totaling 7,400 shares, down 43.1% from the total of 13,000 shares on July 31. Based on an average daily volume of 14,200 shares, the days-to-cover ratio is currently 0.5 days.
Wall Street Analysts Predict Growth
Separately, StockNews.com upgraded Gravity from a “hold” rating to a “buy” rating on Monday, June 6, in a research note.
Institutional inflow and outflow
A number of hedge funds and other institutional investors have recently changed their holdings in the company. State Street Corp. increased its stake in Gravity 181.6% during the second quarter. State Street Corp now owns 25,817 shares of the technology company’s stock valued at $1,315,000 after purchasing an additional 16,649 shares during the period. Quadrant Capital Group LLC increased its stake in Gravity by 374.7% during the second quarter. Quadrant Capital Group LLC now owns 769 shares of the technology company’s stock valued at $39,000 after purchasing an additional 607 shares during the period. Envestnet Asset Management Inc. increased its stake in Gravity by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 16,311 shares of the technology company’s stock valued at $831,000 after purchasing an additional 1,020 shares during the period. SG Americas Securities LLC increased its stake in Gravity by 49.9% during the second quarter. SG Americas Securities LLC now owns 58,649 shares of the technology company’s stock valued at $2,988,000 after purchasing an additional 19,515 shares during the period. Finally, Bank of America Corp DE increased its holdings in Gravity by 2,105.0% during the 1st quarter. Bank of America Corp DE now owns 1,323 shares of the technology company’s stock valued at $67,000 after buying an additional 1,263 shares during the period.
Gravity Price Performance
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Shares of NASDAQ GRVY fell $1.31 during afternoon trading on Friday, reaching $46.02. 40,428 shares of stock traded hands, compared to the average volume of 23,507. The stock has a market cap of $319.79 million, a PE ratio of 6.37 and a beta of 0.06. Gravity has a one-year low of $41.20 and a one-year high of $116.00. The company’s 50-day moving average is $49.85 and its 200-day moving average is $51.01.
Gravity (NASDAQ:GRVY – Get Rating) last posted its earnings results on Wednesday, August 10. The tech company reported $1.93 quarterly earnings for the quarter. The company had revenue of $74.31 million in the quarter. Gravity had a return on equity of 23.29% and a net margin of 14.90%.
About gravity
(Get a rating)
Gravity Co., Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand and Japan. The company offers a massive online multiplayer role-playing game including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. The portfolio of mobile games 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.
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