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

Gravity Co., Ltd. (NASDAQ:GRVY) was the target of a significant increase in short interest in 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 trading volume of 31,400 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Gravity

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Gravity by 68.9% during the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after buying an additional 131 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Gravity in the 3rd quarter worth approximately $117,000. QRG Capital Management Inc. acquired a new stake in Gravity in the 2nd quarter worth approximately $209,000. Creative Planning boosted its position in Gravity by 7.3% during the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock worth $307,000 after purchasing an additional 260 shares during the period. Finally, Caprock Group LLC acquired a new position in Gravity during the second quarter valued at approximately $394,000. Institutional investors own 9.92% of the company’s stock.

Gravity Trading Down 3.9 %

NASDAQ GRVY traded down $2.69 on Friday, reaching $65.61. The stock had a trading volume of 30,207 shares, compared to its average volume of 33,305. Gravity has a 1 year low of $57.37 and a 1 year high of $88.85. The business has a 50 day moving average price of $62.30 and a 200 day moving average price of $69.90. The company has a market capitalization of $455.99 million, a price-to-earnings ratio of 7.31 and a beta of 1.34.

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.