GRAVITY Co., Ltd. – American de (NASDAQ:GRVY) Traded Significantly Above Its 50 Day Average

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Shares are trading at $59.98 impressively higher than the 50 day moving average of $32.68 and significantly above the 200 day moving average of $21.55. The 50 day moving average was up $27.30 and the 200 day average went up $38.43 or +178.39%. Trading was heavy with 157K shares changing hands in the last trading session. Trading volume was up 586.85% over the stocks average daily volume.

Traders are more bearish on the company lately at least if you consider the rise in short interest. The firm had a rise in short interest of 0.70% between September 15, 2017 and September 29, 2017. Short shares increased 464 over that period. With short interest at 67,170 and short average daily volume at 41,458, days to cover is 2.0 and the percentage of shorted shares was 0.02% on September 29.

These funds have shifted positions in (GRVY). As of quarter end Wells Fargo & Company/mn had sold 12 shares trimming its position 3.8%. The value of the investment in GRAVITY Co., Ltd. – American de went from $3,000 to $5,000 a change of $2,000 quarter to quarter. As of the end of the quarter Deutsche Bank Ag had disposed of a total of 2,100 shares trimming its stake by 95.5%. The value of the company’s investment in GRAVITY Co., Ltd. – American de decreased from $45,000 to $1,000 decreasing 97.8% quarter over quarter.

As of quarter end Morgan Stanley had bought a total of 11,217 shares growing its holdings by 9.7%. The value of the investment in GRVY went from $2,403,000 to $2,298,000 a change of 4.4% since the last quarter.

The company’s P/E ratio is 25.49 and market cap is 208.37M.

Gravity Co., Ltd. (Gravity), launched on April 4, 2000, is a developer, distributor and publisher of online games in Japan and Taiwan. The Business’s segments include online games, mobile games and other. Gravity’s principal product, Ragnarok Online, a multiplayer online role playing game, is commercially offered in Korea, and over 80 other countries and markets. The Company categorizes its products into over three categories, which include online games; mobile games and applications, and other games and game-related products and services, including character-based merchandise and animation. It offers Ragnarok Online II commercially across the globe except for Japan and China. It also offers Requiem and Dragonica commercially across the globe. R.O.S.E. Online is commercially offered in the United States, Canada, Mexico and over 40 other countries. The Company also offers a range of mobile games, console games and a game for Internet protocol television (IPTV), and licenses the merchandizing rights of character-related products based on its online games..