Short Interest in Gravity Co., Ltd. (NASDAQ:GRVY) Expands 159.5%

Gravity Co., Ltd. (NASDAQ:GRVY – Get Free Report ) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 9,600 shares, an increase of 159.5% from its August 31st total of 3,700 shares. Based on an average daily trading volume of 31,100 shares, the days-to-cover ratio is currently 0.3 days.

Gravity stock performance

Shares of NASDAQ GRVY traded up $2.45 during trading hours on Thursday, reaching $60.83. The stock had a trading volume of 10,567 shares compared to its average volume of 33,037. The company has a market cap of $422.71 million, a P/E ratio of 4.55 and a beta of 1.35. The company’s 50-day moving average price is $66.60, and its two-hundred-day moving average price is $71.99. Gravity has a 52 week low of $58.38 and a 52 week high of $88.85.

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

Institutional inputs and outputs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Gravity by 68.9% in the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after acquiring an additional 131 shares during the last quarter. Creative Planning boosted its holdings in shares of Gravity by 7.3% in the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after acquiring an additional 260 shares during the period. 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% in the first quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 4,600 shares during the period. Finally, Caprock Group LLC bought a new position in Gravity in the second quarter valued at about $394,000. 9.92% of shares are held by institutional investors.

Analysts set new price targets

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

Check out our latest review of GRVY

About Gravity

(Get a free report)

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand and the United States. The company offers massively multiplayer online role-playing games, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its portfolio of mobile games includes Ragnarok M: Eternal Love; Origin of Ragnarok; Ragnarok X: The Next Generation; Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; The Milkmaid of the Milky Way; and Paladog Tactics.

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