Gravity (NASDAQ:GRVY) Trading 10.7% Higher

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Gravity Co., LTD. (NASDAQ:GRVY) traded up 10.7% during trading on Thursday . The stock traded as high as $44.49 and last traded at $43.01, 108,430 shares changed hands during trading. An increase of 80% from the average session volume of 60,154 shares. The stock had previously closed at $38.86.

Several equities research analysts have recently commented on the company. BidaskClub upgraded Gravity from a “strong sell” rating to a “sell” rating in a report on Friday, September 27th. TheStreet downgraded Gravity from a “b-” rating to a “c+” rating in a report on Tuesday, August 20th. Finally, ValuEngine downgraded Gravity from a “hold” rating to a “sell” rating in a report on Thursday.

The company has a fifty day moving average of $33.90 and a 200-day moving average of $46.31. The firm has a market cap of $280.42 million, a P/E ratio of 6.07 and a beta of -1.67.

A number of institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System grew its holdings in Gravity by 4.2% during the third quarter. California Public Employees Retirement System now owns 32,161 shares of the technology company’s stock worth $1,081,000 after buying an additional 1,295 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Gravity during the third quarter worth $1,680,000. Jane Street Group LLC bought a new stake in Gravity during the second quarter worth $304,000. Cubist Systematic Strategies LLC bought a new stake in Gravity during the second quarter worth $315,000. Finally, Morgan Stanley grew its holdings in Gravity by 1.1% during the second quarter. Morgan Stanley now owns 294,402 shares of the technology company’s stock worth $13,586,000 after buying an additional 3,271 shares in the last quarter. Institutional investors and hedge funds own 9.21% of the company’s stock.

About Gravity (NASDAQ:GRVY)

Gravity Co, Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation.

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