Gravity (NASDAQ:GRVY) Stock Rating Upgraded by StockNews.com

Gravity (NASDAQ:GRVY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Gravity Stock Performance

GRVY traded down $0.02 during midday trading on Thursday, hitting $68.30. The stock had a trading volume of 50,877 shares, compared to its average volume of 33,320. The company has a market cap of $474.69 million, a P/E ratio of 7.61 and a beta of 1.34. Gravity has a 1 year low of $57.37 and a 1 year high of $88.85. The business has a fifty day moving average of $62.11 and a 200 day moving average of $69.92.

Institutional Investors Weigh In On Gravity

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Gravity by 68.9% in the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after acquiring an additional 131 shares during the last quarter. Creative Planning boosted its position in 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 during the last quarter. QRG Capital Management Inc. bought a new position in shares of Gravity in the second quarter worth about $209,000. BNP Paribas Financial Markets raised its stake in shares of Gravity by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock worth $1,609,000 after buying an additional 3,030 shares during the period. Finally, Caprock Group LLC bought a new stake in Gravity during the 2nd quarter valued at approximately $394,000. 9.92% of the stock is owned by hedge funds and other institutional investors.

About Gravity

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.