GRAVITY (NASDAQ:GRVY) Stock Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• GRAVITY shares slipped below their 200-day moving average during Thursday trading, with the stock falling as low as $60.35 versus a 200-day average of $61.16. It last traded at $60.61 on volume of 36,497 shares.
• The company has a market cap of $421.18 million and trades at a P/E ratio of 9.09, with a 50-day moving average of $62.30 and a beta of 0.99.
• In its most recent quarterly results, GRAVITY reported $1.07 EPS and $69.61 million in revenue, while institutional investors held about 9.92% of the stock.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $61.16 and traded as low as $60.35. GRAVITY shares last traded at $60.61, with a volume of 36,497 shares trading hands.

GRAVITY Price Performance

The stock has a market cap of $421.18 million, a P/E ratio of 9.09 and a beta of 0.99. The company has a fifty day moving average of $62.30 and a 200 day moving average of $61.16.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GRVY. Bank of America Corp DE raised its position in GRAVITY by 11.3% in the second quarter. Bank of America Corp DE now owns 2,782 shares of the technology company's stock worth $177,000 after acquiring an additional 282 shares in the last quarter. Signaturefd LLC boosted its position in shares of GRAVITY by 63.4% during the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company's stock valued at $55,000 after purchasing an additional 372 shares in the last quarter. Royal Bank of Canada boosted its position in shares of GRAVITY by 133.4% during the 4th quarter. Royal Bank of Canada now owns 817 shares of the technology company's stock valued at $47,000 after purchasing an additional 467 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of GRAVITY by 19,866.7% in the 4th quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company's stock worth $35,000 after purchasing an additional 596 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of GRAVITY by 49.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,822 shares of the technology company's stock worth $105,000 after purchasing an additional 603 shares during the last quarter. 9.92% of the stock is owned by institutional investors and hedge funds.

About GRAVITY

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.