Gravity Co., Ltd. (NASDAQ:GRVY) Sees Large Decrease in Short Interest

Gravity Co., Ltd. (NASDAQ:GRVYGet Rating) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 13,000 shares, a decrease of 8.5% from the July 15th total of 14,200 shares. Based on an average trading volume of 16,200 shares, the short-interest ratio is currently 0.8 days.

Gravity Trading Down 3.4 %

Shares of NASDAQ GRVY opened at $50.75 on Tuesday. Gravity has a twelve month low of $41.20 and a twelve month high of $116.00. The company has a market capitalization of $352.71 million, a price-to-earnings ratio of 7.02 and a beta of 0.06. The firm has a 50-day moving average of $50.93 and a two-hundred day moving average of $51.72.

Gravity (NASDAQ:GRVYGet Rating) last posted its quarterly earnings data on Friday, May 13th. The technology company reported $1.95 EPS for the quarter. Gravity had a net margin of 14.90% and a return on equity of 23.29%. The company had revenue of $73.14 million during the quarter.

Institutional Trading of Gravity

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its stake in Gravity by 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 buying an additional 16,649 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Gravity by 374.7% in the second quarter. Quadrant Capital Group LLC now owns 769 shares of the technology company’s stock worth $39,000 after purchasing an additional 607 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Gravity by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 16,311 shares of the technology company’s stock worth $831,000 after purchasing an additional 1,020 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Gravity by 49.9% in the second quarter. SG Americas Securities LLC now owns 58,649 shares of the technology company’s stock worth $2,988,000 after purchasing an additional 19,515 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Gravity by 2,105.0% in the first quarter. Bank of America Corp DE now owns 1,323 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,263 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Gravity from a “hold” rating to a “buy” rating in a research report on Monday, June 6th.

About Gravity

(Get Rating)

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and Japan. 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.

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