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

Gravity Co., Ltd. (NASDAQ:GRVY) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 8,200 shares, a decline of 14.6% from the September 15th total of 9,600 shares. Based on an average daily trading volume, of 30,100 shares, the days-to-cover ratio is currently 0.3 days.

Gravity Trading Up 4.3 %

NASDAQ GRVY traded up $2.48 during trading on Wednesday, hitting $59.98. 83,933 shares of the company traded hands, compared to its average volume of 33,267. The company has a market capitalization of $416.80 million, a P/E ratio of 4.53 and a beta of 1.35. The business has a fifty day simple moving average of $61.67 and a 200 day simple moving average of $70.60. Gravity has a 12 month low of $57.37 and a 12 month high of $88.85.

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

Institutional Trading of Gravity

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Gravity by 68.9% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after acquiring an additional 131 shares during the period. QRG Capital Management Inc. bought a new position in shares of Gravity in the second quarter worth about $209,000. Creative Planning lifted its position in shares of Gravity by 7.3% during the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after purchasing an additional 260 shares during the last quarter. Caprock Group LLC bought a new stake in Gravity during the 2nd quarter valued at approximately $394,000. Finally, DGS Capital Management LLC grew its holdings in Gravity by 175.5% in the 1st quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock valued at $820,000 after buying an additional 6,882 shares during the last quarter. 9.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Gravity Company Profile

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.