Gravity (NASDAQ:GRVY) Stock Passes Below Two Hundred Day Moving Average of $69.26

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $69.26 and traded as low as $66.47. Gravity shares last traded at $66.80, with a volume of 40,729 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Gravity from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th.

Gravity Price Performance

The firm has a market cap of $462.24 million, a price-to-earnings ratio of 4.62 and a beta of 0.87. The firm’s fifty day moving average is $71.38 and its 200-day moving average is $69.22.

Hedge Funds Weigh In On Gravity

Several hedge funds and other institutional investors have recently bought and sold shares of GRVY. Envestnet Asset Management Inc. raised its holdings in shares of Gravity by 856.9% during the first quarter. Envestnet Asset Management Inc. now owns 132,584 shares of the technology company’s stock valued at $239,000 after purchasing an additional 118,728 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Gravity by 124.1% during the third quarter. Acadian Asset Management LLC now owns 157,738 shares of the technology company’s stock valued at $10,858,000 after purchasing an additional 87,354 shares during the period. State Street Corp acquired a new position in shares of Gravity during the second quarter valued at about $2,108,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Gravity during the first quarter valued at about $1,257,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Gravity during the third quarter valued at about $900,000. Institutional investors and hedge funds own 9.92% of the company’s stock.

Gravity Company Profile

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.