ValuEngine Lowers Gravity (NASDAQ:GRVY) to Hold

ValuEngine cut shares of Gravity (NASDAQ:GRVY) from a buy rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Separately, BidaskClub lowered shares of Gravity from a sell rating to a strong sell rating in a report on Tuesday, July 9th.

Gravity stock traded up $0.16 during trading hours on Thursday, reaching $40.23. 47,078 shares of the stock were exchanged, compared to its average volume of 69,539. The stock has a market capitalization of $278.41 million, a PE ratio of 6.56 and a beta of -1.88. Gravity has a 52-week low of $15.44 and a 52-week high of $96.50. The company’s 50 day moving average price is $46.78.

Gravity (NASDAQ:GRVY) last announced its quarterly earnings data on Monday, May 13th. The technology company reported $2.50 earnings per share for the quarter. The business had revenue of $117.60 million for the quarter. Gravity had a net margin of 13.45% and a return on equity of 66.53%.

Hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB acquired a new stake in Gravity in the first quarter valued at approximately $966,000. Acadian Asset Management LLC increased its stake in Gravity by 34.6% in the 1st quarter. Acadian Asset Management LLC now owns 31,006 shares of the technology company’s stock worth $1,999,000 after purchasing an additional 7,968 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Gravity in the 1st quarter worth about $240,000. Navellier & Associates Inc increased its stake in Gravity by 23.2% in the 2nd quarter. Navellier & Associates Inc now owns 13,255 shares of the technology company’s stock worth $612,000 after purchasing an additional 2,496 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in Gravity in the 4th quarter worth about $68,000. Institutional investors and hedge funds own 7.43% of the company’s stock.

About Gravity

Gravity Co, Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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