Gravity (NASDAQ:GRVY) Upgraded at StockNews.com

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

Gravity Stock Performance

NASDAQ:GRVY opened at $65.61 on Thursday. Gravity has a fifty-two week low of $57.37 and a fifty-two week high of $88.85. The company has a 50 day moving average price of $62.30 and a 200 day moving average price of $69.94. The stock has a market capitalization of $455.92 million, a P/E ratio of 7.31 and a beta of 1.34.

Institutional Investors Weigh In On Gravity

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Gravity by 68.9% during the 2nd 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. Creative Planning grew its position in shares of Gravity by 7.3% during the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after buying an additional 260 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Gravity during the third quarter worth approximately $117,000. QRG Capital Management Inc. acquired a new stake in Gravity in the second quarter valued at approximately $209,000. Finally, BNP Paribas Financial Markets lifted 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 worth $1,609,000 after acquiring an additional 3,030 shares during the last quarter. Hedge funds and other institutional investors own 9.92% of the company’s stock.

Gravity Company Profile

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.