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

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

Gravity Stock Performance

NASDAQ:GRVY opened at $65.61 on Thursday. The firm’s 50-day moving average is $62.22 and its 200-day moving average is $69.91. Gravity has a 52-week low of $57.37 and a 52-week high of $88.85. The company has a market cap of $455.99 million, a price-to-earnings ratio of 7.42 and a beta of 1.34.

Institutional Trading of Gravity

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in Gravity by 29.5% in the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock worth $17,689,000 after purchasing an additional 53,195 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in shares of Gravity during the 3rd quarter valued at about $2,977,000. BNP Paribas Financial Markets increased its stake in Gravity by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after acquiring an additional 3,030 shares during the period. Apis Capital Advisors LLC raised its position in Gravity by 88.9% in the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Caprock Group LLC bought a new position in Gravity during the second quarter worth about $394,000. Institutional investors and hedge funds 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.