GRAVITY (NASDAQ:GRVY) Issues Earnings Results

Key Points

• GRAVITY (NASDAQ:GRVY) reported quarterly earnings of $1.41 per share, with a net margin of 19.17% and a return on equity of 18.07%.
• Shares of GRAVITY traded down $0.10 to $63.75, with institutional investors holding 9.92% of the company's stock.
• Wall Street analysts recently upgraded GRAVITY's rating from "hold" to "buy", indicating positive growth expectations for the company.

GRAVITY (NASDAQ:GRVY - Get Free Report) posted its quarterly earnings results on Friday. The technology company reported $1.41 earnings per share for the quarter, Zacks reports. GRAVITY had a net margin of 19.17% and a return on equity of 18.07%.

GRAVITY Stock Performance

Shares of GRAVITY stock traded down $0.10 during midday trading on Friday, reaching $63.75. 20,244 shares of the company's stock traded hands, compared to its average volume of 14,729. The stock has a 50 day moving average of $63.36 and a 200-day moving average of $61.40. GRAVITY has a 12 month low of $53.12 and a 12 month high of $69.06. The company has a market cap of $443.06 million, a PE ratio of 7.74 and a beta of 1.23.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GRAVITY stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in GRAVITY Co., Ltd. (NASDAQ:GRVY - Free Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,644 shares of the technology company's stock after buying an additional 1,248 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.15% of GRAVITY worth $644,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.92% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of GRAVITY from a "hold" rating to a "buy" rating in a report on Saturday, June 14th.

About GRAVITY

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.