Short Interest in Gravity Co., Ltd. (NASDAQ:GRVY) Grows By 16.0%

Gravity Co., Ltd. (NASDAQ:GRVY) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 13,800 shares, a growth of 16.0% from the October 15th total of 11,900 shares. Based on an average trading volume of 31,400 shares, the days-to-cover ratio is currently 0.4 days.

Gravity Stock Down 3.9 %

NASDAQ:GRVY opened at $65.61 on Monday. The company has a market capitalization of $455.92 million, a P/E ratio of 7.31 and a beta of 1.34. Gravity has a 52 week low of $57.37 and a 52 week high of $88.85. The stock’s fifty day moving average is $62.30 and its two-hundred day moving average is $69.94.

Hedge Funds Weigh In On Gravity

A number of hedge funds have recently made changes to their positions in GRVY. GAMMA Investing LLC grew its stake in shares of Gravity by 68.9% during the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after purchasing an additional 131 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Gravity in the third quarter valued at approximately $117,000. QRG Capital Management Inc. acquired a new stake in Gravity during the second quarter worth approximately $209,000. Creative Planning lifted 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 worth $307,000 after buying an additional 260 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Gravity in the 2nd quarter valued at $394,000. Hedge funds and other institutional investors own 9.92% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Gravity from a “hold” rating to a “buy” rating in a report on Thursday.

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.