Gravity (NASDAQ:GRVY) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $62.46 and traded as low as $55.49. Gravity shares last traded at $56.50, with a volume of 12,770 shares.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Gravity Trading Up 0.7 %

The company has a market capitalization of $392.62 million, a price-to-earnings ratio of 6.29 and a beta of 1.29. The company has a 50 day moving average price of $60.85 and a 200 day moving average price of $62.46.

Institutional Trading of Gravity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. bought a new position in shares of Gravity in the 3rd quarter valued at about $2,977,000. GAMMA Investing LLC boosted its stake in Gravity by 162.4% in the fourth quarter. GAMMA Investing LLC now owns 690 shares of the technology company’s stock valued at $44,000 after acquiring an additional 427 shares during the last quarter. R Squared Ltd acquired a new stake in Gravity during the 4th quarter worth $52,000. Public Employees Retirement System of Ohio bought a new stake in shares of Gravity during the 3rd quarter valued at $117,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Gravity by 12.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after purchasing an additional 3,030 shares during the period. 9.92% of the stock is currently owned by institutional investors and hedge funds.

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.