GRAVITY Co., Ltd. (NASDAQ:GRVY) Sees Significant Decrease in Short Interest

GRAVITY Co., Ltd. (NASDAQ:GRVYGet Free Report) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 36,119 shares, a decrease of 35.5% from the June 30th total of 56,031 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 36,909 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Trading of GRAVITY

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its stake in GRAVITY by 19,866.7% in the 4th quarter. Farther Finance Advisors LLC now owns 599 shares of the technology company’s stock worth $35,000 after buying an additional 596 shares during the period. Royal Bank of Canada boosted its position in GRAVITY by 133.4% in the 4th quarter. Royal Bank of Canada now owns 817 shares of the technology company’s stock valued at $47,000 after buying an additional 467 shares during the period. Signaturefd LLC boosted its position in GRAVITY by 63.4% in the 4th quarter. Signaturefd LLC now owns 959 shares of the technology company’s stock valued at $55,000 after buying an additional 372 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in GRAVITY in the 4th quarter worth about $62,000. Finally, Quadrant Capital Group LLC bought a new position in GRAVITY in the 3rd quarter worth about $78,000. Hedge funds and other institutional investors own 9.92% of the company’s stock.

GRAVITY Stock Performance

GRVY stock traded up $0.32 during midday trading on Friday, reaching $62.27. 19,855 shares of the company traded hands, compared to its average volume of 38,878. The firm has a market capitalization of $432.78 million, a price-to-earnings ratio of 8.48 and a beta of 1.01. GRAVITY has a 52-week low of $54.54 and a 52-week high of $74.75. The business has a 50 day moving average of $62.73 and a 200-day moving average of $63.33.

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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