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

Gravity Co., Ltd. (NASDAQ:GRVY) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 9,600 shares, a growth of 159.5% from the August 31st total of 3,700 shares. Based on an average trading volume of 31,100 shares, the days-to-cover ratio is presently 0.3 days.

Gravity Price Performance

Gravity stock opened at $59.58 on Friday. Gravity has a one year low of $58.38 and a one year high of $88.85. The company’s fifty day moving average price is $66.29 and its two-hundred day moving average price is $71.91. The company has a market capitalization of $414.02 million, a price-to-earnings ratio of 4.50 and a beta of 1.35.

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

Institutional Trading of Gravity

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Gravity by 68.9% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after acquiring an additional 131 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Gravity during the 2nd quarter worth about $209,000. Creative Planning lifted its position in shares of Gravity by 7.3% during the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after purchasing an additional 260 shares during the last quarter. Caprock Group LLC bought a new stake in Gravity during the 2nd quarter valued at approximately $394,000. Finally, BNP Paribas Financial Markets grew its holdings in Gravity by 112.1% in the 4th quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock valued at $779,000 after buying an additional 5,920 shares during the last quarter. 9.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Gravity from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

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.