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

Key Points

• GRAVITY’s short interest fell 35.5% to 36,119 shares as of July 15, down from 56,031 shares on June 30. Short interest equals 0.5% of shares outstanding, with a days-to-cover ratio of 1.0.
• Institutional ownership stands at 9.92%, with several funds increasing or initiating positions, including Militia Capital Management, Ranmore Fund Management and Two Sigma Investments.
• GRVY shares recently traded at $62.27, within a 12-month range of $54.54 to $74.75. The company has a market capitalization of approximately $432.8 million and a P/E ratio of 8.48.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 36,119 shares, a drop of 35.5% from the June 30th total of 56,031 shares. Based on an average daily volume of 36,909 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Militia Capital Management LLC purchased a new position in GRAVITY during the first quarter valued at $3,829,000. Ranmore Fund Management Ltd lifted its stake in GRAVITY by 55.7% in the 4th quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company's stock worth $8,087,000 after purchasing an additional 50,000 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of GRAVITY during the 4th quarter valued at about $1,476,000. Two Sigma Investments LP boosted its holdings in shares of GRAVITY by 64.0% during the 3rd quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company's stock valued at $1,382,000 after purchasing an additional 8,427 shares during the last quarter. Finally, Militia Capital Partners LP grew its position 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 purchasing an additional 7,344 shares in the last quarter. Institutional investors own 9.92% of the company's stock.

GRAVITY Price Performance

Shares of GRVY traded up $0.32 on Friday, reaching $62.27. The company's stock had a trading volume of 19,855 shares, compared to its average volume of 38,878. The stock's 50 day simple moving average is $62.73 and its two-hundred day simple moving average is $63.33. The stock has a market capitalization of $432.78 million, a P/E ratio of 8.48 and a beta of 1.01. GRAVITY has a 12-month low of $54.54 and a 12-month high of $74.75.

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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