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

Gravity Co., Ltd. (NASDAQ:GRVY) saw a significant 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 volume of 31,400 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

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

Gravity Price Performance

GRVY stock traded down $2.69 on Friday, reaching $65.61. 30,207 shares of the company were exchanged, compared to its average volume of 33,305. Gravity has a 12 month low of $57.37 and a 12 month high of $88.85. The stock’s fifty day moving average price is $62.30 and its 200 day moving average price is $69.90. The firm has a market capitalization of $455.99 million, a PE ratio of 7.31 and a beta of 1.34.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Gravity by 68.9% in the second quarter. GAMMA Investing LLC now owns 321 shares of the technology company’s stock worth $26,000 after purchasing an additional 131 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Gravity during the 3rd quarter worth approximately $117,000. QRG Capital Management Inc. acquired a new stake in Gravity in the 2nd quarter valued at $209,000. Creative Planning grew its position in Gravity by 7.3% in the second quarter. Creative Planning now owns 3,801 shares of the technology company’s stock valued at $307,000 after acquiring an additional 260 shares during the period. Finally, Caprock Group LLC bought a new position in shares of Gravity during the second quarter valued at $394,000. 9.92% of the stock is currently owned by institutional investors and hedge funds.

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.