GRAVITY (NASDAQ:GRVY) Share Price Crosses Above Fifty Day Moving Average Following Analyst Downgrade

Key Points

• The stock price of GRAVITY Co., Ltd. (NASDAQ:GRVY) rose above its 50-day moving average after receiving an upgrade from Wall Street Zen, moving from a hold to a buy rating.
• Recent institutional trading showed significant increases in holdings, with JPMorgan Chase & Co. raising its stake by 1,052.3% during the second quarter.
• GRAVITY reported an earnings per share (EPS) of $1.41 and total revenue of $126.15 million for the last quarter, showcasing a net margin of 17.60%.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock has a 50-day moving average of $63.69 and traded as high as $65.55. GRAVITY shares last traded at $64.35, with a volume of 7,197 shares traded.

Institutional Trading of GRAVITY

A number of hedge funds have recently added to or reduced their stakes in GRVY. Militia Capital Partners LP lifted its holdings in shares of GRAVITY by 16.1% in the 2nd quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company's stock valued at $3,376,000 after buying an additional 7,344 shares during the period. Bank of America Corp DE lifted its holdings in shares of GRAVITY by 11.3% in the 2nd quarter. Bank of America Corp DE now owns 2,782 shares of the technology company's stock valued at $177,000 after buying an additional 282 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of GRAVITY by 28.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,644 shares of the technology company's stock valued at $869,000 after buying an additional 3,000 shares during the period. Boston Partners lifted its holdings in shares of GRAVITY by 16.3% in the 2nd quarter. Boston Partners now owns 16,889 shares of the technology company's stock valued at $1,076,000 after buying an additional 2,364 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in GRAVITY by 1,052.3% during the second quarter. JPMorgan Chase & Co. now owns 3,457 shares of the technology company's stock worth $220,000 after purchasing an additional 3,157 shares during the last quarter. 9.92% of the stock is owned by institutional investors and hedge funds.

GRAVITY Price Performance

The stock has a 50-day simple moving average of $63.69 and a 200 day simple moving average of $61.69. The company has a market capitalization of $447.23 million, a PE ratio of 7.72 and a beta of 1.23.

GRAVITY (NASDAQ:GRVY - Get Free Report) last posted 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 for the quarter. GRAVITY had a return on equity of 17.45% and a net margin of 17.60%.

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.

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