GRAVITY (NASDAQ:GRVY) Hits New 1-Year High - Still a Buy?

Key Points

• GRAVITY shares reached a new 52-week high, trading as high as $75.50 and closing near $75.16, up from the previous close of $73.03.
• Wall Street’s stance remains cautious: Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” while the average analyst rating is still Hold.
• GRAVITY reported quarterly revenue of $104.47 million and EPS of $2.26. The company has a $522.36 million market capitalization, a P/E ratio of 9.22, and institutional investors own 9.92% of its shares.

GRAVITY Co., Ltd. (NASDAQ:GRVY - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $75.50 and last traded at $75.16, with a volume of 33818 shares traded. The stock had previously closed at $73.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of GRAVITY from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

GRAVITY Stock Performance

The business has a fifty day simple moving average of $65.90 and a 200 day simple moving average of $63.71. The company has a market cap of $522.36 million, a P/E ratio of 9.22 and a beta of 1.03.

GRAVITY (NASDAQ:GRVY - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The technology company reported $2.26 earnings per share (EPS) for the quarter. GRAVITY had a return on equity of 12.70% and a net margin of 14.92%.The business had revenue of $104.47 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ranmore Fund Management Ltd lifted its holdings in GRAVITY by 55.7% in the fourth quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company's stock worth $8,087,000 after acquiring an additional 50,000 shares during the last quarter. Militia Capital Management LLC bought a new position in shares of GRAVITY during the first quarter valued at approximately $3,829,000. Militia Capital Partners LP raised its position in shares of GRAVITY by 1.3% during the 4th quarter. Militia Capital Partners LP now owns 58,737 shares of the technology company's stock worth $3,399,000 after purchasing an additional 737 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of GRAVITY during the 4th quarter worth approximately $1,476,000. Finally, Two Sigma Investments LP lifted its holdings in shares of GRAVITY by 64.0% in the 3rd quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company's stock worth $1,382,000 after purchasing an additional 8,427 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.

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