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

by · The Markets Daily

GRAVITY Co., Ltd. (NASDAQ:GRVY – Get Free Report) saw a significant increase in short interest in 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 short sold. Based on an average daily trading volume, of 20,153 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 20,153 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On GRAVITY

Several hedge funds and other institutional investors have recently modified their holdings of GRVY. Parallel Advisors LLC grew its holdings in shares of GRAVITY by 160.9% during the 2nd quarter. Parallel Advisors LLC now owns 467 shares of the technology company’s stock worth $30,000 after purchasing an additional 288 shares during the period. GAMMA Investing LLC lifted its position in GRAVITY by 120.8% in the second quarter. GAMMA Investing LLC now owns 563 shares of the technology company’s stock valued at $36,000 after buying an additional 308 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in GRAVITY during the third quarter worth about $78,000. Bank of America Corp DE increased its position in shares of GRAVITY by 11.3% during the second quarter. Bank of America Corp DE now owns 2,782 shares of the technology company’s stock valued at $177,000 after acquiring an additional 282 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of GRAVITY in the 1st quarter valued at approximately $212,000. 9.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of GRAVITY in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

View Our Latest Stock Analysis on GRVY

GRAVITY Stock Down 1.3%

Shares of GRVY stock traded down $0.74 during mid-day trading on Tuesday, hitting $56.58. 16,293 shares of the stock were exchanged, compared to its average volume of 16,772. GRAVITY has a 52-week low of $53.12 and a 52-week high of $70.00. The company has a market cap of $393.23 million, a PE ratio of 7.13 and a beta of 0.98. The firm has a fifty day moving average of $57.55 and a 200 day moving average of $61.26.

GRAVITY (NASDAQ:GRVY – Get Free Report) last announced its earnings results 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 return on equity of 16.39% and a net margin of 16.84%.

About GRAVITY

(Get Free Report)

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.

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