Gravity (NASDAQ:GRVY) Sees Unusually-High Trading Volume

Gravity Co., Ltd. (NASDAQ:GRVY) saw unusually-high trading volume on Monday . Approximately 36,089 shares changed hands during trading, an increase of 6% from the previous session’s volume of 34,154 shares.The stock last traded at $80.15 and had previously closed at $80.75.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Gravity from a “hold” rating to a “buy” rating in a research report on Thursday.

Gravity Stock Down 1.5 %

The stock’s fifty day moving average price is $75.55 and its two-hundred day moving average price is $72.13. The company has a market capitalization of $552.87 million, a PE ratio of 6.10 and a beta of 1.41.

Gravity (NASDAQ:GRVY) last posted its earnings results on Thursday, May 9th. The technology company reported $2.87 earnings per share for the quarter. The company had revenue of $119.78 million during the quarter. Gravity had a net margin of 16.96% and a return on equity of 46.65%.

Institutional Trading of Gravity

Several institutional investors and hedge funds have recently bought and sold shares of GRVY. Acadian Asset Management LLC lifted its holdings in Gravity by 29.5% in the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock worth $17,689,000 after buying an additional 53,195 shares during the period. Quadrature Capital Ltd purchased a new stake in Gravity in the third quarter worth about $900,000. DGS Capital Management LLC increased its stake in shares of Gravity by 175.5% during the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock valued at $820,000 after purchasing an additional 6,882 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Gravity by 112.1% during the fourth quarter. BNP Paribas Financial Markets now owns 11,202 shares of the technology company’s stock valued at $779,000 after purchasing an additional 5,920 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Gravity by 15.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock valued at $234,000 after purchasing an additional 458 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

About Gravity

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and the United States. The company offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its mobile games portfolio includes Ragnarok M: Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; and Paladog Tactics.