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

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) saw strong trading volume on Monday . 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.

Wall Street Analyst Weigh In

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

Gravity Stock Down 1.5 %

The business has a fifty day moving average of $75.55 and a 200 day moving average of $72.13. The firm has a market cap of $552.87 million, a P/E ratio of 6.10 and a beta of 1.41.

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

Institutional Investors Weigh In On Gravity

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in shares of Gravity by 15.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,371 shares of the technology company’s stock worth $234,000 after acquiring an additional 458 shares in the last quarter. BNP Paribas Financial Markets boosted its position 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 worth $779,000 after buying an additional 5,920 shares during the period. Jump Financial LLC boosted its position in shares of Gravity by 12.0% during the fourth quarter. Jump Financial LLC now owns 3,707 shares of the technology company’s stock worth $258,000 after buying an additional 398 shares during the period. New York State Common Retirement Fund boosted its position in shares of Gravity by 20.7% during the fourth quarter. New York State Common Retirement Fund now owns 2,637 shares of the technology company’s stock worth $183,000 after buying an additional 453 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Gravity during the third quarter worth about $900,000. 9.92% of the stock is currently owned by institutional investors.

Gravity Company Profile

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.