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 report published on Thursday morning.

Gravity Stock Performance

Shares of Gravity stock opened at $65.61 on Thursday. The stock’s fifty day moving average is $62.30 and its 200 day moving average is $69.90. The stock has a market cap of $455.99 million, a P/E ratio of 7.31 and a beta of 1.34. Gravity has a one year low of $57.37 and a one year high of $88.85.

Hedge Funds Weigh In On Gravity

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Gravity by 68.9% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Gravity during the third quarter valued at about $117,000. QRG Capital Management Inc. purchased a new position in shares of Gravity in the second quarter valued at about $209,000. Creative Planning boosted its stake in shares of Gravity by 7.3% in the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after acquiring an additional 260 shares during the period. Finally, Caprock Group LLC purchased a new stake in shares of Gravity during the second quarter worth about $394,000. 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.