GRAVITY (NASDAQ:GRVY) Share Price Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY) recently crossed above its 50-day moving average of $64.13, indicating a potential upward trend in the stock price.
• Wall Street analyst Wall Street Zen downgraded GRAVITY from a "buy" to a "hold" rating, reflecting a cautious outlook on the stock.
• Institutional investors have shown increased interest, with major firms like JPMorgan Chase boosting their positions significantly during the second quarter.

Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $64.13 and traded as high as $64.30. GRAVITY shares last traded at $63.75, with a volume of 12,049 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded GRAVITY from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd.

GRAVITY Stock Down 0.7%

The business has a fifty day moving average of $64.13 and a 200 day moving average of $62.34. The firm has a market cap of $443.06 million, a P/E ratio of 7.64 and a beta of 1.05.

GRAVITY (NASDAQ:GRVY - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The technology company reported $1.41 earnings per share (EPS) for the quarter. GRAVITY had a return on equity of 17.45% and a net margin of 17.60%.The company had revenue of $126.15 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Militia Capital Partners LP boosted 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 worth $3,376,000 after buying an additional 7,344 shares during the period. Bank of America Corp DE boosted its position in shares of GRAVITY by 11.3% during the second quarter. Bank of America Corp DE now owns 2,782 shares of the technology company's stock worth $177,000 after buying an additional 282 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of GRAVITY by 28.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,644 shares of the technology company's stock worth $869,000 after buying an additional 3,000 shares during the period. Boston Partners boosted its position in shares of GRAVITY by 16.3% during the second quarter. Boston Partners now owns 16,889 shares of the technology company's stock worth $1,076,000 after buying an additional 2,364 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 3,157 shares during the period. 9.92% of the stock is owned by institutional investors and hedge funds.

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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