Gravity (NASDAQ:GRVY) Sets New 52-Week High at $111.00

Gravity Co., LTD. (NASDAQ:GRVY)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $111.00 and last traded at $109.06, with a volume of 83 shares. The stock had previously closed at $107.69.

Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Gravity from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. TheStreet upgraded Gravity from a “c+” rating to a “b” rating in a research report on Thursday, July 16th. Finally, BidaskClub upgraded Gravity from a “hold” rating to a “buy” rating in a report on Wednesday, August 12th.

The firm has a market cap of $810.53 million, a PE ratio of 30.86 and a beta of -0.53. The business has a fifty day moving average price of $85.07 and a two-hundred day moving average price of $53.08.

Gravity (NASDAQ:GRVY) last released its earnings results on Friday, August 7th. The technology company reported $1.57 earnings per share for the quarter. The company had revenue of $73.68 million for the quarter. Gravity had a return on equity of 25.60% and a net margin of 10.11%.

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Gravity by 17.9% during the first quarter. Morgan Stanley now owns 225,854 shares of the technology company’s stock worth $6,768,000 after acquiring an additional 34,362 shares in the last quarter. Virtu Financial LLC bought a new stake in Gravity in the second quarter worth approximately $225,000. SG Americas Securities LLC acquired a new position in shares of Gravity during the 2nd quarter worth $752,000. Acadian Asset Management LLC raised its holdings in shares of Gravity by 43.9% during the 1st quarter. Acadian Asset Management LLC now owns 134,478 shares of the technology company’s stock valued at $4,029,000 after purchasing an additional 41,030 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Gravity in the second quarter worth $474,000. Institutional investors and hedge funds own 7.60% of the company’s stock.

About Gravity (NASDAQ:GRVY)

Gravity Co, Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation.

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