Gravity (NASDAQ:GRVY) Shares Pass Below 200-Day Moving Average of $69.26

Gravity Co., Ltd. (NASDAQ:GRVY) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

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

Gravity Stock Performance

The company has a market cap of $464.26 million, a PE ratio of 4.29 and a beta of 0.87. The firm’s 50 day moving average is $71.37 and its 200-day moving average is $69.26.

Hedge Funds Weigh In On Gravity

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SNC boosted its holdings in Gravity by 450.0% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 1,100 shares of the technology company’s stock valued at $64,000 after purchasing an additional 900 shares during the last quarter. Bank of America Corp DE boosted its holdings in Gravity by 2,105.0% in the 1st quarter. Bank of America Corp DE now owns 1,323 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,263 shares during the last quarter. UBS Group AG boosted its holdings in Gravity by 1,366.4% in the 3rd quarter. UBS Group AG now owns 1,657 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,544 shares during the last quarter. Citigroup Inc. boosted its holdings in Gravity by 80.5% in the 2nd quarter. Citigroup Inc. now owns 1,801 shares of the technology company’s stock valued at $126,000 after purchasing an additional 803 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Gravity by 24.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,212 shares of the technology company’s stock valued at $130,000 after purchasing an additional 640 shares during the last quarter. 9.92% of the stock is currently owned by institutional investors and hedge funds.

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.