Gravity (NASDAQ:GRVY) Share Price Crosses Below Two Hundred Day Moving Average of $72.36

Gravity Co., Ltd. (NASDAQ:GRVY) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $72.36 and traded as low as $58.53. Gravity shares last traded at $59.24, with a volume of 28,363 shares changing hands.

Wall Street Analysts Forecast Growth

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

Gravity Stock Down 1.3 %

The company has a market cap of $411.66 million, a price-to-earnings ratio of 4.48 and a beta of 1.35. The company’s fifty day moving average price is $67.73 and its two-hundred day moving average price is $72.36.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of Gravity by 29.5% in the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock valued at $17,689,000 after buying an additional 53,195 shares during the period. Apis Capital Advisors LLC lifted its position in shares of Gravity by 88.9% in the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 8,000 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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 in the last quarter. DGS Capital Management LLC lifted its position in shares of Gravity by 175.5% in the first quarter. DGS Capital Management LLC now owns 10,803 shares of the technology company’s stock worth $820,000 after purchasing an additional 6,882 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Gravity in the second quarter worth $394,000. Institutional investors and hedge funds own 9.92% of the company’s stock.

About Gravity

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.