Gravity (NASDAQ:GRVY) Stock Price Crosses Above 50-Day Moving Average of $56.58

Gravity Co., Ltd. (NASDAQ:GRVYGet Rating)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $56.58 and traded as high as $60.30. Gravity shares last traded at $59.74, with a volume of 35,594 shares trading hands.

Analysts Set New Price Targets

Separately, lowered shares of Gravity from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 15th.

Gravity Stock Up 0.4 %

The firm has a market cap of $415.19 million, a price-to-earnings ratio of 5.38 and a beta of 0.15. The stock’s 50 day moving average is $56.58 and its 200 day moving average is $50.03.

Gravity (NASDAQ:GRVYGet Rating) last posted its quarterly earnings data on Friday, March 31st. The technology company reported $3.52 EPS for the quarter. Gravity had a net margin of 19.17% and a return on equity of 32.66%. The business had revenue of $129.80 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new position in Gravity in the first quarter worth approximately $204,000. BlackRock Inc. grew its position in Gravity by 716.1% in the first quarter. BlackRock Inc. now owns 5,843 shares of the technology company’s stock worth $338,000 after buying an additional 5,127 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its stake in Gravity by 450.0% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 1,100 shares of the technology company’s stock worth $64,000 after purchasing an additional 900 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Gravity in the 1st quarter worth approximately $1,257,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Gravity during the 1st quarter valued at $248,000. Institutional investors and hedge funds own 8.31% of the company’s stock.

About Gravity

(Get Rating)

Gravity Co, Ltd. engages in the development and publishing of online games, software and other related services. It operates through the following business fields: Online Games Development Business, Game Publishing Business, Mobile Business, Multi Platform Business, One Source Multi Use Business and the Internet Protocol Television Business.

Further Reading

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