Gravity Co., Ltd. (NASDAQ:GRVY) Short Interest Up 83.6% in February

Gravity Co., Ltd. (NASDAQ:GRVY – Get Rating) benefited from a sharp rise in short-term interest rates in February. As of February 28, there was short interest totaling 21,300 shares, an increase of 83.6% from February 13’s total of 11,600 shares. Based on an average daily trading volume of 42,100 shares, the day-to-cover ratio is currently 0.5 days.

A number of hedge funds and other institutional investors have recently changed their positions in the company. Barclays PLC increased its position in Gravity by 29.6% in the fourth quarter. Barclays PLC now owns 40,226 shares of the technology company valued at $2,740,000 after buying an additional 9,181 shares during the period. BlackRock Inc. increased its stake in Gravity shares by 40.4% in the fourth quarter. BlackRock Inc. now owns 8,742 shares of the technology company worth $596,000 after acquiring 2,514 additional shares in the last quarter. Wells Fargo & Company MN acquired a new position in Gravity stock in the fourth quarter worth $103,000. Goldman Sachs Group Inc. increased its stake in Gravity shares by 15.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,047 shares of the technology company worth $344,000 after acquiring 685 additional shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Gravity in the fourth quarter worth $151,000. 7.79% of the shares are currently held by institutional investors.

GRVY stock opened at $43.85 on Friday. The company has a market capitalization of $304.76 million, a PE ratio of 4.37 and a beta of -0.08. The company’s 50-day moving average price is $58.07 and its 200-day moving average price is $77.70. Gravity has a 1-year low of $42.54 and a 1-year high of $146.00.

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Gravity Company Profile (Get an assessment)

Gravity Co, Ltd. engages in the development and publication of online games, software and other related services. It operates in the following business areas: online game development, game publishing, mobile business, multi-platform business, single-source multi-use business and internet protocol television business.

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