StockNews.com Upgrades Gravity (NASDAQ:GRVY) to “Buy”

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

Gravity Trading Down 0.0 %

Shares of NASDAQ:GRVY traded down $0.02 on Thursday, hitting $68.30. The company had a trading volume of 50,877 shares, compared to its average volume of 33,320. Gravity has a 1-year low of $57.37 and a 1-year high of $88.85. The stock has a market cap of $474.69 million, a price-to-earnings ratio of 7.61 and a beta of 1.34. The stock has a 50 day moving average price of $62.11 and a 200 day moving average price of $69.92.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Gravity by 68.9% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. Creative Planning lifted its holdings in shares of Gravity by 7.3% in the 2nd 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. QRG Capital Management Inc. purchased a new position in Gravity during the 2nd quarter worth $209,000. 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 worth $1,609,000 after acquiring an additional 3,030 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Gravity during the 2nd quarter worth $394,000. 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.