GRAVITY Co., Ltd. (NASDAQ:GRVY) Short Interest Update

Key Points

• GRAVITY Co., Ltd. (NASDAQ:GRVY) experienced a significant decline in short interest, dropping by 51.9% to 2,500 shares by September 30th.
• The stock is currently trading at $58.07, down 0.7%, with a market capitalization of $403.59 million and a P/E ratio of 6.96.
• Recent analyst ratings for GRAVITY indicate a general shift toward a "hold" stance, with some firms downgrading it from a previous "buy" rating.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 2,500 shares, a decline of 51.9% from the September 15th total of 5,200 shares. Based on an average daily volume of 12,200 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 12,200 shares, the days-to-cover ratio is currently 0.2 days.

GRAVITY Stock Down 0.7%

Shares of NASDAQ:GRVY traded down $0.38 during midday trading on Monday, hitting $58.07. The stock had a trading volume of 18,686 shares, compared to its average volume of 14,670. The company's 50-day moving average price is $63.55 and its 200-day moving average price is $62.79. The company has a market capitalization of $403.59 million, a P/E ratio of 6.96 and a beta of 1.32. GRAVITY has a fifty-two week low of $53.12 and a fifty-two week high of $70.00.

GRAVITY (NASDAQ:GRVY - Get Free Report) last issued 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%.

Analyst Ratings Changes

GRVY has been the subject of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of GRAVITY in a research note on Wednesday, October 8th. Wall Street Zen cut shares of GRAVITY from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

Institutional Investors Weigh In On GRAVITY

Several hedge funds and other institutional investors have recently made changes to their positions in GRVY. GAMMA Investing LLC grew its holdings in GRAVITY by 38.2% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the technology company's stock worth $50,000 after acquiring an additional 215 shares during the last quarter. Bank of America Corp DE grew its holdings in GRAVITY by 11.3% during the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company's stock worth $177,000 after acquiring an additional 282 shares during the last quarter. Parallel Advisors LLC grew its holdings in GRAVITY by 160.9% during the 2nd quarter. Parallel Advisors LLC now owns 467 shares of the technology company's stock worth $30,000 after acquiring an additional 288 shares during the last quarter. Boston Partners grew its holdings in GRAVITY by 5.4% during the 1st quarter. Boston Partners now owns 14,525 shares of the technology company's stock worth $879,000 after acquiring an additional 749 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of GRAVITY by 13.3% in 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 purchasing an additional 1,248 shares during the last quarter. 9.92% of the stock is owned by 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.

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