Gravity (NASDAQ:GRVY) Shares Cross Below 200-Day Moving Average – What’s Next?

Gravity Co., Ltd. (NASDAQ:GRVY) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $61.84 and traded as low as $57.12. Gravity shares last traded at $58.38, with a volume of 49,797 shares traded.

Gravity Stock Down 2.9 %

The company has a market capitalization of $405.68 million, a PE ratio of 6.50 and a beta of 1.29. The firm’s 50 day simple moving average is $59.59 and its 200 day simple moving average is $61.86.

Hedge Funds Weigh In On Gravity

A number of large investors have recently made changes to their positions in GRVY. Ranmore Fund Management Ltd bought a new stake in Gravity in the fourth quarter worth about $5,664,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Gravity by 13.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 66,989 shares of the technology company’s stock worth $4,228,000 after acquiring an additional 8,014 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Gravity by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after acquiring an additional 3,030 shares during the period. Apis Capital Advisors LLC grew its position in Gravity by 7.5% in the 4th quarter. Apis Capital Advisors LLC now owns 20,000 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Gravity by 67.8% in the fourth quarter. Two Sigma Investments LP now owns 16,716 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 6,754 shares during the period. 9.92% of the stock is owned by hedge funds and other institutional investors.

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.