Gravity (NASDAQ:GRVY) Stock Crosses Below 200 Day Moving Average of $69.29

Gravity Co., Ltd. (NASDAQ:GRVY)’s stock price crossed 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.

Analysts Set New Price Targets

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

Gravity Price Performance

The business has a 50 day simple moving average of $71.53 and a 200 day simple moving average of $69.29. The company has a market capitalization of $471.49 million, a price-to-earnings ratio of 4.72 and a beta of 0.87.

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

Institutional Investors Weigh In On Gravity

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in Gravity by 124.1% in 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 during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Gravity by 6.7% in the 3rd 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. Quadrature Capital Ltd purchased a new position in shares of Gravity in the 3rd quarter valued at about $900,000. BNP Paribas Financial Markets grew its position in shares of Gravity by 112.1% during the fourth quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock worth $779,000 after buying an additional 5,920 shares in the last quarter. Finally, DGS Capital Management LLC increased its stake in shares of Gravity by 175.5% during the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock worth $820,000 after buying an additional 6,882 shares during the period. 9.92% of the stock is owned by hedge funds and other institutional investors.

About Gravity

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.