Short Interest in Gravity Co., Ltd. (NASDAQ:GRVY) Rises By 106.4%

Gravity Co., Ltd. (NASDAQ:GRVYGet Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 9,700 shares, a growth of 106.4% from the May 15th total of 4,700 shares. Based on an average daily volume of 37,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Gravity

Several institutional investors and hedge funds have recently made changes to their positions in GRVY. New York State Common Retirement Fund lifted its stake in shares of Gravity by 78.9% in the third quarter. New York State Common Retirement Fund now owns 2,184 shares of the technology company’s stock valued at $151,000 after buying an additional 963 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Gravity in the third quarter worth about $228,000. Quadrant Capital Group LLC increased its stake in shares of Gravity by 15.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after purchasing an additional 458 shares in the last quarter. DGS Capital Management LLC purchased a new position in shares of Gravity in the fourth quarter worth about $273,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Gravity by 112.1% in the fourth 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 in the last quarter. Institutional investors own 9.92% of the company’s stock.

Gravity Stock Performance

Gravity stock traded up $0.10 during midday trading on Friday, reaching $83.20. The stock had a trading volume of 30,587 shares, compared to its average volume of 41,456. The stock has a market capitalization of $578.24 million, a P/E ratio of 6.29 and a beta of 1.20. Gravity has a 1-year low of $59.00 and a 1-year high of $88.85. The firm’s fifty day simple moving average is $72.85 and its 200-day simple moving average is $71.53.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, June 6th.

View Our Latest Research Report on Gravity

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.

See Also

Receive News & Ratings for Gravity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gravity and related companies with MarketBeat.com's FREE daily email newsletter.