StockNews.com Downgrades Gravity (NASDAQ:GRVY) to Buy

Gravity (NASDAQ:GRVY) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, TheStreet upgraded Gravity from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd.

Gravity Stock Performance

Shares of NASDAQ:GRVY opened at $66.82 on Monday. Gravity has a fifty-two week low of $36.08 and a fifty-two week high of $82.48. The business has a 50-day simple moving average of $66.22 and a two-hundred day simple moving average of $66.80. The firm has a market cap of $464.40 million, a price-to-earnings ratio of 4.74 and a beta of 0.66.

Institutional Investors Weigh In On Gravity

A number of large investors have recently made changes to their positions in GRVY. BNP Paribas Arbitrage SNC grew its stake in shares of Gravity by 450.0% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 1,100 shares of the technology company’s stock valued at $64,000 after purchasing an additional 900 shares during the period. Bank of America Corp DE grew its stake in shares of Gravity by 2,105.0% during the 1st quarter. Bank of America Corp DE now owns 1,323 shares of the technology company’s stock valued at $67,000 after acquiring an additional 1,263 shares during the period. UBS Group AG grew its stake in shares of Gravity by 1,366.4% during the 3rd quarter. UBS Group AG now owns 1,657 shares of the technology company’s stock valued at $78,000 after acquiring an additional 1,544 shares during the period. Citigroup Inc. grew its stake in shares of Gravity by 80.5% during the 2nd quarter. Citigroup Inc. now owns 1,801 shares of the technology company’s stock valued at $126,000 after acquiring an additional 803 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Gravity by 24.9% during the 4th quarter. Wells Fargo & Company MN now owns 3,212 shares of the technology company’s stock valued at $130,000 after acquiring an additional 640 shares during the period. 7.82% of the stock is currently owned by institutional investors.

Gravity Company Profile

Gravity Co, Ltd. develops and publishes online and mobile games in South Korea, Taiwan, Thailand, and the United States. The company offers a massively multiplayer online role-playing game, including Ragnarok Online, Dragonica, Ragnarok Online II, and Ragnarok Prequel II. Its mobile games portfolio includes Ragnarok M: Eternal Love; Ragnarok Origin; Ragnarok X: Next Generation; the Labyrinth of Ragnarok; Ragnarok Poring Merge; Tera Classic; Ragnarok: The Lost Memories; Sadako M; NBA: Rise To Stardom; Milkmaid Of The Milky Way; and Paladog Tactics.