Gravity Co., Ltd. (NASDAQ:GRVY) Sees Large Increase in Short Interest

Gravity Co., Ltd. (NASDAQ:GRVY) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 9,600 shares, an increase of 159.5% from the August 31st total of 3,700 shares. Based on an average daily volume of 31,100 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Gravity from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

Gravity Trading Down 1.2 %

Shares of NASDAQ:GRVY opened at $59.58 on Friday. The firm has a market capitalization of $414.02 million, a PE ratio of 4.50 and a beta of 1.35. Gravity has a 1-year low of $58.38 and a 1-year high of $88.85. The business’s 50 day moving average is $66.29 and its 200-day moving average is $71.91.

Gravity (NASDAQ:GRVY) last posted its quarterly earnings results on Friday, August 9th. The technology company reported $1.31 earnings per share for the quarter. Gravity had a net margin of 14.87% and a return on equity of 37.85%. The firm had revenue of $89.33 million for the quarter.

Institutional Trading of Gravity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Gravity by 68.9% during the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after purchasing an additional 131 shares in the last quarter. Creative Planning boosted its stake in Gravity by 7.3% in the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock valued at $307,000 after buying an additional 260 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Gravity in the second quarter valued at $209,000. BNP Paribas Financial Markets raised its stake in Gravity by 41.1% during the first quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Caprock Group LLC bought a new position in shares of Gravity during the second quarter valued at $394,000. Institutional investors own 9.92% of the company’s stock.

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.