Gravity Co., Ltd. (NASDAQ:GRVY) Sees Significant Growth in Short Interest

Gravity Co., Ltd. (NASDAQ:GRVY - Get Free Report) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 11,900 shares, a growth of 45.1% from the September 30th total of 8,200 shares. Based on an average daily volume of 33,200 shares, the days-to-cover ratio is presently 0.4 days.

Gravity Stock Performance

GRVY stock traded up $0.84 during midday trading on Tuesday, hitting $64.13. 19,242 shares of the stock were exchanged, compared to its average volume of 33,160. The stock's 50-day moving average price is $61.48 and its 200-day moving average price is $70.07. The stock has a market cap of $445.64 million, a price-to-earnings ratio of 4.85 and a beta of 1.35. Gravity has a fifty-two week low of $57.37 and a fifty-two week high of $88.85.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded Gravity from a "buy" rating to a "hold" rating in a research note on Friday, August 16th.

Hedge Funds Weigh In On Gravity

Several hedge funds and other institutional investors have recently bought and sold shares of GRVY. Creative Planning raised its stake in shares of Gravity by 7.3% during the second quarter. Creative Planning now owns 3,801 shares of the technology company's stock valued at $307,000 after purchasing an additional 260 shares during the period. Apis Capital Advisors LLC lifted its holdings in Gravity by 88.9% in the 2nd quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company's stock worth $1,373,000 after buying an additional 8,000 shares in the last quarter. Caprock Group LLC purchased a new position in Gravity in the 2nd quarter valued at about $394,000. QRG Capital Management Inc. acquired a new stake in shares of Gravity during the second quarter valued at about $209,000. Finally, GAMMA Investing LLC increased its position in shares of Gravity by 68.9% during the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company's stock worth $26,000 after acquiring an additional 131 shares during the last quarter. 9.92% of the stock is owned by institutional investors and hedge funds.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games worldwide. It offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Landverse. Its mobile games portfolio includes Ragnarok M; Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; Ragnarok Arena; WITH ISLAND; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; Generation Zombie; Ragnarok Idle Adventure; Ragnarok 20 Heroes; White Chord; WITH: Whale In The High; Ragnarok Lost Memories; and Paladog Tactics.