Gravity Co., Ltd. (NASDAQ:GRVY) Sees Significant Increase in Short Interest

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

Gravity Price Performance

Shares of NASDAQ GRVY opened at $65.61 on Monday. The business has a fifty day moving average price of $62.30 and a 200 day moving average price of $69.94. Gravity has a 1-year low of $57.37 and a 1-year high of $88.85. The stock has a market capitalization of $455.92 million, a P/E ratio of 7.31 and a beta of 1.34.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Gravity

Several hedge funds and other institutional investors have recently bought and sold shares of GRVY. Acadian Asset Management LLC grew its position in shares of Gravity by 29.5% in the first quarter. Acadian Asset Management LLC now owns 233,515 shares of the technology company’s stock valued at $17,689,000 after purchasing an additional 53,195 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Gravity during the third quarter worth $2,977,000. Apis Capital Advisors LLC boosted its position in shares of Gravity by 88.9% during the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after buying an additional 8,000 shares during the period. Caprock Group LLC acquired a new stake in shares of Gravity during the second quarter worth about $394,000. Finally, BNP Paribas Financial Markets increased its stake in Gravity by 41.1% during the 1st quarter. BNP Paribas Financial Markets now owns 15,802 shares of the technology company’s stock worth $1,199,000 after buying an additional 4,600 shares during the period. Institutional investors and hedge funds 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.