GRAVITY (NASDAQ:GRVY) Shares Pass Below 200-Day Moving Average - Time to Sell?

Key Points

• GRAVITY Co., Ltd. (NASDAQ: GRVY) has seen its stock price fall below its 200-day moving average of $61.41, trading as low as $61.00 recently.
• Wall Street analysts have upgraded GRAVITY from a "hold" rating to a "buy" rating, indicating increased confidence in the stock.
• The company reported $1.41 earnings per share for its most recent quarter, with a net margin of 19.17% and a return on equity of 18.07%.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $61.41 and traded as low as $61.00. GRAVITY shares last traded at $62.25, with a volume of 23,137 shares traded.

Analyst Ratings Changes

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

GRAVITY Stock Down 2.5%

The business's 50-day simple moving average is $63.31 and its two-hundred day simple moving average is $61.43. The firm has a market cap of $432.64 million, a price-to-earnings ratio of 7.46 and a beta of 1.23.

GRAVITY (NASDAQ:GRVY - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The technology company reported $1.41 earnings per share for the quarter. The business had revenue of $126.15 million during the quarter. GRAVITY had a net margin of 17.60% and a return on equity of 17.88%.

Institutional Trading of GRAVITY

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its stake in shares of GRAVITY by 8.7% in the 1st quarter. Acadian Asset Management LLC now owns 233,983 shares of the technology company's stock valued at $14,126,000 after buying an additional 18,826 shares during the period. Militia Capital Partners LP grew its stake in shares of GRAVITY by 63.5% in the 1st quarter. Militia Capital Partners LP now owns 45,656 shares of the technology company's stock valued at $2,762,000 after buying an additional 17,738 shares during the period. GAMMA Investing LLC grew its stake in shares of GRAVITY by 2,135.9% in the 1st quarter. GAMMA Investing LLC now owns 15,428 shares of the technology company's stock valued at $933,000 after buying an additional 14,738 shares during the period. Two Sigma Investments LP grew its stake in shares of GRAVITY by 67.8% in the 4th quarter. Two Sigma Investments LP now owns 16,716 shares of the technology company's stock valued at $1,055,000 after buying an additional 6,754 shares during the period. Finally, Trexquant Investment LP grew its stake in shares of GRAVITY by 91.4% in the 4th quarter. Trexquant Investment LP now owns 13,303 shares of the technology company's stock valued at $840,000 after buying an additional 6,352 shares during the period. Hedge funds and other institutional investors own 9.92% of the company's stock.

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.