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

StockNews.com upgraded shares of Gravity (NASDAQ:GRVY) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Gravity Price Performance

GRVY stock opened at $65.61 on Thursday. Gravity has a 1 year low of $57.37 and a 1 year high of $88.85. The firm has a market capitalization of $455.92 million, a PE ratio of 7.31 and a beta of 1.34. The business has a 50 day simple moving average of $62.30 and a 200-day simple moving average of $69.94.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in Gravity during the third quarter worth about $117,000. BNP Paribas Financial Markets grew its stake in shares of Gravity by 12.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after buying an additional 3,030 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in shares of Gravity during the 3rd quarter worth approximately $2,977,000. Creative Planning raised its position in shares of Gravity by 7.3% during the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock valued at $307,000 after buying an additional 260 shares during the period. Finally, Apis Capital Advisors LLC lifted its holdings in Gravity by 88.9% in the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock valued at $1,373,000 after acquiring an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 9.92% of the company’s stock.

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.