Short Interest in Gravity Co., Ltd. (NASDAQ:GRVY) Drops By 8.5%

Gravity Co., Ltd. (NASDAQ:GRVY) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 33,300 shares, a decrease of 8.5% from the November 30th total of 36,400 shares. Based on an average daily trading volume, of 30,500 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gravity from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Gravity Stock Performance

Shares of NASDAQ:GRVY traded down $0.09 on Wednesday, hitting $63.11. The company’s stock had a trading volume of 27,411 shares, compared to its average volume of 32,371. The company has a market capitalization of $438.55 million, a price-to-earnings ratio of 7.03 and a beta of 1.32. The stock’s 50-day moving average is $65.11 and its two-hundred day moving average is $67.61. Gravity has a 12 month low of $57.37 and a 12 month high of $88.85.

Institutional Trading of Gravity

A number of hedge funds and other institutional investors have recently made changes to their positions in GRVY. Pekin Hardy Strauss Inc. bought a new stake in Gravity during the third quarter worth approximately $2,977,000. Caprock Group LLC acquired a new stake in shares of Gravity in the second quarter valued at $394,000. Creative Planning boosted its stake in Gravity by 7.3% during the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock valued at $307,000 after buying an additional 260 shares in the last quarter. Apis Capital Advisors LLC grew its holdings in Gravity by 88.9% during the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after acquiring an additional 8,000 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Gravity in the third quarter worth about $117,000. 9.92% of the stock is currently owned by institutional investors.

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.