Gravity (NASDAQ:GRVY) Shares Cross Below 200-Day Moving Average of $69.29

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $69.29 and traded as low as $67.00. Gravity shares last traded at $67.85, with a volume of 23,493 shares traded.

Analysts Set New Price Targets

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

Gravity Stock Performance

The firm has a market capitalization of $471.49 million, a P/E ratio of 4.72 and a beta of 0.87. The stock’s 50 day simple moving average is $71.53 and its 200 day simple moving average is $69.29.

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

Hedge Funds Weigh In On Gravity

Institutional investors have recently made changes to their positions in the company. First Trust Direct Indexing L.P. purchased a new stake in Gravity in the third quarter worth about $336,000. Jump Financial LLC purchased a new stake in shares of Gravity in the 3rd quarter worth approximately $228,000. New York State Common Retirement Fund lifted its position in shares of Gravity by 78.9% in the 3rd quarter. New York State Common Retirement Fund now owns 2,184 shares of the technology company’s stock worth $151,000 after purchasing an additional 963 shares during the period. Acadian Asset Management LLC boosted its stake 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Gravity by 6.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 23,809 shares of the technology company’s stock valued at $1,643,000 after buying an additional 1,501 shares during the period. Hedge funds and other institutional investors 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.