Gravity (NASDAQ:GRVY) Stock Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Gravity Co., Ltd. (NASDAQ:GRVY) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $61.92 and traded as high as $68.32. Gravity shares last traded at $65.45, with a volume of 48,065 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered Gravity from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

Gravity Stock Down 0.4 %

The company’s fifty day moving average price is $61.92 and its two-hundred day moving average price is $69.94. The company has a market cap of $454.88 million, a price-to-earnings ratio of 6.80 and a beta of 1.34.

Institutional Trading of Gravity

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Gravity by 68.9% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after buying an additional 131 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Gravity in the second quarter valued at approximately $209,000. Creative Planning lifted its position in shares of Gravity by 7.3% in the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after purchasing an additional 260 shares in the last quarter. Caprock Group LLC acquired a new position in Gravity during the second quarter worth $394,000. Finally, BNP Paribas Financial Markets grew its position in Gravity by 41.1% in the first quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock valued at $1,199,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 9.92% of the company’s stock.

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.