Gravity (NASDAQ:GRVY) Share Price Passes Below Two Hundred Day Moving Average of $69.30

Gravity Co., Ltd. (NASDAQ:GRVY) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $69.30 and traded as low as $65.03. Gravity shares last traded at $66.13, with a volume of 36,108 shares changing hands.

Analyst Upgrades and Downgrades

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

Gravity Stock Performance

The business’s fifty day moving average price is $71.43 and its two-hundred day moving average price is $69.30. The firm has a market capitalization of $469.13 million, a P/E ratio of 4.69 and a beta of 0.92.

Gravity (NASDAQ:GRVY) last announced its earnings results on Friday, April 12th. The technology company reported $2.35 earnings per share for the quarter. The company had revenue of $110.31 million during the quarter. Gravity had a net margin of 18.22% and a return on equity of 30.81%.

Institutional Investors Weigh In On Gravity

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Gravity by 41.1% in the 1st quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock valued at $1,199,000 after acquiring an additional 4,600 shares during the period. DGS Capital Management LLC raised its stake in shares of Gravity by 175.5% in the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock worth $820,000 after purchasing an additional 6,882 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Gravity by 15.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after purchasing an additional 458 shares during the period. Jump Financial LLC lifted its holdings in shares of Gravity by 12.0% during the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock worth $258,000 after purchasing an additional 398 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Gravity by 20.7% in the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock valued at $183,000 after buying an additional 453 shares during the last quarter. 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.