Gravity Co., Ltd. (NASDAQ:GRVY) Sees Large Increase in Short Interest

Gravity Co., Ltd. (NASDAQ:GRVY) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 45,100 shares, a growth of 33.4% from the March 15th total of 33,800 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 18,400 shares, the short-interest ratio is presently 2.5 days.

Gravity Stock Performance

Gravity stock traded down $1.22 during mid-day trading on Friday, reaching $58.50. 5,542 shares of the company were exchanged, compared to its average volume of 28,776. The firm has a market cap of $406.52 million, a P/E ratio of 6.51 and a beta of 1.46. The business has a fifty day moving average of $58.74 and a 200 day moving average of $61.80. Gravity has a 12-month low of $53.12 and a 12-month high of $88.85.

Institutional Investors Weigh In On Gravity

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Gravity during the third quarter valued at about $117,000. GAMMA Investing LLC raised its stake in shares of Gravity by 162.4% during the 4th quarter. GAMMA Investing LLC now owns 690 shares of the technology company’s stock worth $44,000 after acquiring an additional 427 shares in the last quarter. Flower City Capital bought a new position in shares of Gravity during the 4th quarter worth approximately $253,000. R Squared Ltd purchased a new stake in Gravity during the fourth quarter valued at approximately $52,000. Finally, Signaturefd LLC boosted its stake in Gravity by 111.5% in the fourth quarter. Signaturefd LLC now owns 423 shares of the technology company’s stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

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.