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

Key Points

• Short interest in GRAVITY climbed 34.4% in March to 35,025 shares (about 0.5% of the stock), giving a short-interest ratio of 1.5 days based on average daily volume.
• Institutional activity increased, with Ranmore Fund boosting its stake by 55.7% to 139,744 shares and other firms (Two Sigma, GSA Capital) also adding positions; institutions now own 9.92% of the company.
• GRAVITY reported quarterly results on April 10 of EPS $1.07 on $69.61M revenue, while the stock trades at a P/E of 9.12 and a market cap of about $423 million.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 35,025 shares, a growth of 34.4% from the March 15th total of 26,057 shares. Approximately 0.5% of the company's stock are short sold. Based on an average daily volume of 23,020 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of GRAVITY in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, GRAVITY currently has an average rating of "Hold".

Institutional Trading of GRAVITY

Several institutional investors have recently added to or reduced their stakes in GRVY. Ranmore Fund Management Ltd increased its stake in GRAVITY by 55.7% during the fourth quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company's stock valued at $8,087,000 after purchasing an additional 50,000 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of GRAVITY during the fourth quarter valued at $1,476,000. Two Sigma Investments LP boosted its holdings in shares of GRAVITY by 64.0% during the third quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company's stock valued at $1,382,000 after acquiring an additional 8,427 shares during the period. Militia Capital Partners LP boosted its holdings in shares of GRAVITY by 16.1% during the second quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company's stock valued at $3,376,000 after acquiring an additional 7,344 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of GRAVITY by 137.0% during the third quarter. GSA Capital Partners LLP now owns 7,574 shares of the technology company's stock valued at $485,000 after acquiring an additional 4,378 shares during the period. Institutional investors own 9.92% of the company's stock.

GRAVITY Stock Up 0.5%

GRVY stock traded up $0.30 during trading on Wednesday, hitting $60.86. 10,266 shares of the company's stock traded hands, compared to its average volume of 19,617. GRAVITY has a 52 week low of $54.54 and a 52 week high of $74.75. The stock has a fifty day moving average price of $63.48 and a two-hundred day moving average price of $61.00. The stock has a market capitalization of $422.98 million, a price-to-earnings ratio of 9.12 and a beta of 1.04.

GRAVITY (NASDAQ:GRVY - Get Free Report) last released its earnings results on Friday, April 10th. The technology company reported $1.07 earnings per share for the quarter. GRAVITY had a net margin of 11.94% and a return on equity of 10.71%. The firm had revenue of $69.61 million during the quarter.

GRAVITY Company Profile

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role‐playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company's product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.

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