Gravity (NASDAQ:GRVY) Trading Up 1.9%

Gravity Co., Ltd. (NASDAQ:GRVYGet Free Report) shares shot up 1.9% during trading on Friday . The stock traded as high as $84.20 and last traded at $83.95. 6,536 shares traded hands during trading, a decline of 80% from the average session volume of 33,422 shares. The stock had previously closed at $82.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Gravity from a “hold” rating to a “buy” rating in a research note on Thursday.

Get Our Latest Stock Report on GRVY

Gravity Stock Performance

The stock has a 50 day moving average of $71.78 and a two-hundred day moving average of $71.07. The firm has a market capitalization of $611.88 million, a P/E ratio of 6.65 and a beta of 1.20.

Gravity (NASDAQ:GRVYGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $2.87 earnings per share for the quarter. The business had revenue of $119.78 million during the quarter. Gravity had a net margin of 16.96% and a return on equity of 46.65%.

Institutional Investors Weigh In On Gravity

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Gravity by 124.1% in the 3rd quarter. Acadian Asset Management LLC now owns 157,738 shares of the technology company’s stock valued at $10,858,000 after buying an additional 87,354 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Gravity by 15.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock valued at $234,000 after purchasing an additional 458 shares during the period. BNP Paribas Financial Markets grew its position in Gravity by 112.1% in the 4th quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock worth $779,000 after purchasing an additional 5,920 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Gravity by 12.0% during the 4th 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 raised its position in shares of Gravity by 20.7% during 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. 9.92% of the stock is currently owned by institutional investors.

About Gravity

(Get Free Report)

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.

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