Gravity Co., Ltd. (NASDAQ:GRVY) Short Interest Update

Gravity Co., Ltd. (NASDAQ:GRVY) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 13,800 shares, an increase of 16.0% from the October 15th total of 11,900 shares. Based on an average daily trading volume, of 31,400 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gravity from a “hold” rating to a “buy” rating in a research note on Thursday.

Gravity Price Performance

Shares of NASDAQ GRVY opened at $65.61 on Monday. The firm’s 50 day simple moving average is $62.30 and its 200-day simple moving average is $69.94. Gravity has a 12 month low of $57.37 and a 12 month high of $88.85. The stock has a market capitalization of $455.92 million, a price-to-earnings ratio of 7.31 and a beta of 1.34.

Institutional Trading of Gravity

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in Gravity by 29.5% in the 1st quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock valued at $17,689,000 after buying an additional 53,195 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Gravity by 41.1% in the first quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 4,600 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Gravity during the second quarter worth approximately $209,000. Caprock Group LLC acquired a new position in Gravity in the 2nd quarter valued at $394,000. Finally, Creative Planning lifted its holdings in Gravity by 7.3% in the 2nd quarter. Creative Planning now owns 3,801 shares of the technology company’s stock valued at $307,000 after purchasing an additional 260 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

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.