Gravity (NASDAQ:GRVY) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Gravity Co., Ltd. (NASDAQ:GRVY) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $60.73 and traded as high as $64.01. Gravity shares last traded at $63.36, with a volume of 3,179 shares trading hands.

Gravity Price Performance

The company has a market capitalization of $440.29 million, a price-to-earnings ratio of 7.06 and a beta of 1.32. The business has a fifty day moving average price of $60.73 and a 200 day moving average price of $61.62.

Gravity (NASDAQ:GRVY) last released its earnings results on Friday, May 9th. The technology company reported $2.15 earnings per share (EPS) for the quarter. The firm had revenue of $93.23 million for the quarter. Gravity had a return on equity of 34.76% and a net margin of 14.98%.

Hedge Funds Weigh In On Gravity

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in shares of Gravity by 8.7% in the 1st quarter. Acadian Asset Management LLC now owns 233,983 shares of the technology company’s stock valued at $14,126,000 after purchasing an additional 18,826 shares during the period. Ranmore Fund Management Ltd acquired a new position in shares of Gravity in the 4th quarter valued at $5,664,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Gravity by 13.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 66,989 shares of the technology company’s stock valued at $4,228,000 after purchasing an additional 8,014 shares during the period. Apis Capital Advisors LLC boosted its position in shares of Gravity by 7.5% in the 4th quarter. Apis Capital Advisors LLC now owns 20,000 shares of the technology company’s stock valued at $1,262,000 after purchasing an additional 1,400 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Gravity by 67.8% in the 4th quarter. Two Sigma Investments LP now owns 16,716 shares of the technology company’s stock valued at $1,055,000 after purchasing an additional 6,754 shares during the period. Institutional investors and hedge funds own 9.92% of the company’s stock.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.