Gravity (NASDAQ:GRVY) Stock Passes Below 200 Day Moving Average – Here’s Why

Gravity Co., Ltd. (NASDAQ:GRVY)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $61.84 and traded as low as $57.12. Gravity shares last traded at $58.38, with a volume of 49,797 shares trading hands.

Gravity Price Performance

The stock has a market cap of $405.68 million, a PE ratio of 6.50 and a beta of 1.29. The business has a fifty day moving average of $59.59 and a 200-day moving average of $61.86.

Institutional Investors Weigh In On Gravity

Hedge funds have recently made changes to their positions in the company. Ranmore Fund Management Ltd purchased a new position in shares of Gravity during the fourth quarter valued at $5,664,000. Boston Partners purchased a new position in Gravity during the 4th quarter valued at about $869,000. Arrowstreet Capital Limited Partnership increased its position in Gravity by 13.6% during 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. Two Sigma Investments LP raised its holdings 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 in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Gravity by 91.4% in the 4th quarter. Trexquant Investment LP now owns 13,303 shares of the technology company’s stock worth $840,000 after purchasing an additional 6,352 shares during the period. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

About Gravity

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.