GRAVITY (NASDAQ:GRVY) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of GRAVITY Co., Ltd. (NASDAQ:GRVY) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $63.33 and traded as low as $61.44. GRAVITY shares last traded at $61.95, with a volume of 21,647 shares traded.

GRAVITY Stock Performance

The business’s 50-day simple moving average is $62.71 and its 200-day simple moving average is $63.33. The company has a market cap of $430.55 million, a PE ratio of 8.49 and a beta of 1.01.

Institutional Trading of GRAVITY

Institutional investors have recently bought and sold shares of the company. Militia Capital Management LLC acquired a new position in GRAVITY in the 1st quarter worth about $3,829,000. Ranmore Fund Management Ltd grew its stake in shares of GRAVITY by 55.7% in the 4th quarter. Ranmore Fund Management Ltd now owns 139,744 shares of the technology company’s stock valued at $8,087,000 after buying an additional 50,000 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of GRAVITY in the 4th quarter valued at approximately $1,476,000. Two Sigma Investments LP increased its holdings in GRAVITY by 64.0% in the third quarter. Two Sigma Investments LP now owns 21,587 shares of the technology company’s stock worth $1,382,000 after buying an additional 8,427 shares during the last quarter. Finally, Militia Capital Partners LP increased its holdings in GRAVITY by 16.1% in the second quarter. Militia Capital Partners LP now owns 53,000 shares of the technology company’s stock worth $3,376,000 after buying an additional 7,344 shares during the last quarter. Institutional investors and hedge funds own 9.92% of the company’s stock.

GRAVITY Company Profile

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.