Short Interest in GRAVITY Co., Ltd. (NASDAQ:GRVY) Decreases By 34.8%

Key Points

• GRAVITY Co., Ltd. (NASDAQ:GRVY) experienced a significant decrease in short interest, falling by 34.8% in August, with only 4,500 shares shorted as of August 31st.
• Institutional investors have shown increased interest, with notable increases in holdings from Parallel Advisors LLC (up 160.9%) and GAMMA Investing LLC (up 120.8%) during the 2nd quarter.
• Wall Street analysts downgraded GRAVITY from a "buy" rating to a "hold" rating on August 22nd, following the company's earnings report where it posted $1.41 EPS.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 4,500 shares, a decline of 34.8% from the August 15th total of 6,900 shares. Based on an average daily trading volume, of 11,900 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company's stock are short sold. Approximately 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 11,900 shares, the short-interest ratio is presently 0.4 days.

GRAVITY Stock Performance

GRVY stock traded down $0.18 during trading on Friday, reaching $63.86. The company had a trading volume of 3,153 shares, compared to its average volume of 14,308. The firm has a 50-day simple moving average of $64.09 and a 200-day simple moving average of $62.15. The company has a market cap of $443.83 million, a price-to-earnings ratio of 7.66 and a beta of 1.05. GRAVITY has a twelve month low of $53.12 and a twelve month high of $70.00.

GRAVITY (NASDAQ:GRVY - Get Free Report) last released its earnings results on Friday, August 8th. The technology company reported $1.41 EPS for the quarter. The company had revenue of $126.15 million during the quarter. GRAVITY had a net margin of 17.60% and a return on equity of 17.45%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of GRAVITY from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd.

Institutional Trading of GRAVITY

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in GRAVITY by 11.3% in the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company's stock worth $177,000 after purchasing an additional 282 shares in the last quarter. Parallel Advisors LLC lifted its stake in GRAVITY by 160.9% during the 2nd quarter. Parallel Advisors LLC now owns 467 shares of the technology company's stock valued at $30,000 after acquiring an additional 288 shares during the period. GAMMA Investing LLC lifted its stake in GRAVITY by 120.8% during the 2nd quarter. GAMMA Investing LLC now owns 563 shares of the technology company's stock valued at $36,000 after acquiring an additional 308 shares during the period. Boston Partners lifted its stake in GRAVITY by 5.4% during the 1st quarter. Boston Partners now owns 14,525 shares of the technology company's stock valued at $879,000 after acquiring an additional 749 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in GRAVITY by 13.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,644 shares of the technology company's stock valued at $644,000 after acquiring an additional 1,248 shares during the period. 9.92% of the stock is currently owned by institutional investors and hedge funds.

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.