Gravity (NASDAQ:GRVY) Stock Rating Upgraded by BidaskClub

Gravity (NASDAQ:GRVY) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday, BidAskClub reports.

Separately, ValuEngine upgraded shares of Gravity from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.

Shares of GRVY traded up $0.46 during mid-day trading on Wednesday, reaching $36.02. The stock had a trading volume of 6,242 shares, compared to its average volume of 40,736. The firm has a market cap of $247.77 million, a price-to-earnings ratio of 5.21 and a beta of -1.62. Gravity has a 12 month low of $26.00 and a 12 month high of $96.50. The business has a fifty day moving average of $36.45 and a 200 day moving average of $35.34.

Gravity (NASDAQ:GRVY) last posted its quarterly earnings results on Thursday, November 14th. The technology company reported $1.08 earnings per share for the quarter. The business had revenue of $64.86 million during the quarter. Gravity had a net margin of 13.57% and a return on equity of 55.88%.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in shares of Gravity by 1.1% in 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. California Public Employees Retirement System lifted its holdings in shares of Gravity by 4.2% in 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. purchased a new position in shares of Gravity in the third quarter worth $1,680,000. BlackRock Inc. purchased a new position in shares of Gravity in the second quarter worth $777,000. Finally, Jane Street Group LLC purchased a new position in shares of Gravity in the second quarter worth $304,000. 9.58% of the stock is currently owned by hedge funds and other institutional investors.

Gravity Company Profile

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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