Gravity (NASDAQ:GRVY) Shares Up 14.1%

Gravity Co., LTD. (NASDAQ:GRVY)’s stock price shot up 14.1% during mid-day trading on Friday . The company traded as high as $39.51 and last traded at $39.02, 127,502 shares traded hands during mid-day trading. An increase of 115% from the average session volume of 59,306 shares. The stock had previously closed at $34.20.

A number of brokerages have issued reports on GRVY. BidaskClub raised Gravity from a “strong sell” rating to a “sell” rating in a research note on Friday, September 27th. ValuEngine raised Gravity from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, TheStreet lowered Gravity from a “b-” rating to a “c+” rating in a research note on Tuesday, August 20th.

The firm has a market capitalization of $245.02 million, a price-to-earnings ratio of 5.30 and a beta of -1.67. The firm has a 50 day moving average price of $33.10 and a two-hundred day moving average price of $46.84.

Gravity (NASDAQ:GRVY) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $1.40 earnings per share (EPS) for the quarter. Gravity had a return on equity of 61.46% and a net margin of 14.06%. The business had revenue of $67.67 million during the quarter.

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A number of large investors have recently added to or reduced their stakes in GRVY. Public Employees Retirement System of Ohio acquired a new stake in shares of Gravity in the second quarter valued at $25,000. Russell Investments Group Ltd. boosted its stake in shares of Gravity by 97.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,827 shares of the technology company’s stock worth $86,000 after acquiring an additional 902 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Gravity by 18.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,343 shares of the technology company’s stock worth $200,000 after acquiring an additional 679 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Gravity during the 2nd quarter worth about $304,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Gravity during the 2nd quarter worth about $315,000. Institutional investors and hedge funds own 9.45% of the company’s stock.

Gravity Company Profile (NASDAQ:GRVY)

Gravity Co, Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation.

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