Short Interest in GRAVITY Co., Ltd. (NASDAQ:GRVY) Rises By 36.9%

GRAVITY Co., Ltd. (NASDAQ:GRVY) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 17,224 shares, an increase of 36.9% from the November 30th total of 12,585 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 20,153 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 20,153 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.2% of the company’s stock are sold short.

GRAVITY Price Performance

GRAVITY stock traded up $1.29 during midday trading on Wednesday, reaching $57.87. The company’s stock had a trading volume of 11,051 shares, compared to its average volume of 16,838. The stock has a market capitalization of $402.20 million, a P/E ratio of 7.30 and a beta of 0.98. The stock’s 50-day simple moving average is $57.54 and its 200-day simple moving average is $61.24. GRAVITY has a 52-week low of $53.12 and a 52-week high of $70.00.

GRAVITY (NASDAQ:GRVY) last posted its quarterly earnings data on Friday, November 7th. The technology company reported $2.04 earnings per share (EPS) for the quarter. The firm had revenue of $98.92 million for the quarter. GRAVITY had a net margin of 16.84% and a return on equity of 16.39%.

Institutional Investors Weigh In On GRAVITY

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in GRAVITY by 8.7% during the first quarter. Acadian Asset Management LLC now owns 233,983 shares of the technology company’s stock worth $14,126,000 after purchasing an additional 18,826 shares in the last quarter. Militia Capital Partners LP lifted its position in shares of GRAVITY by 9.4% during the 3rd quarter. Militia Capital Partners LP now owns 58,000 shares of the technology company’s stock valued at $3,712,000 after buying an additional 5,000 shares in the last quarter. Two Sigma Investments LP grew its stake in GRAVITY by 64.0% in the 3rd quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock valued at $1,382,000 after acquiring an additional 8,427 shares during the period. Boston Partners grew its stake in GRAVITY by 14.5% in the 3rd quarter. Boston Partners now owns 19,344 shares of the technology company’s stock valued at $1,238,000 after acquiring an additional 2,455 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in GRAVITY by 28.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,644 shares of the technology company’s stock worth $869,000 after acquiring an additional 3,000 shares in the last quarter. 9.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of GRAVITY in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, GRAVITY has a consensus rating of “Hold”.

About GRAVITY

Gravity Co, Ltd is a South Korea–based developer and publisher of online games, best known for creating the Ragnarok franchise. Since its founding in 2000 by industry veteran Kim Sang-young, the company has specialized in massively multiplayer online role‐playing games (MMORPGs) and related digital content. Over the years, Gravity has expanded its portfolio beyond its flagship title to include sequels, spin-offs and mobile adaptations targeted at a global audience.

The company’s product lineup centers on PC and mobile MMORPGs built on the Ragnarok intellectual property.