Short Interest in Gravity Co., Ltd. (NASDAQ:GRVY) Grows By 93.6%

Gravity Co., Ltd. (NASDAQ:GRVY) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 36,400 shares, a growth of 93.6% from the November 15th total of 18,800 shares. Based on an average daily volume of 31,500 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gravity from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Hedge Funds Weigh In On Gravity

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning lifted its stake 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 during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Gravity during the third quarter valued at $117,000. QRG Capital Management Inc. bought a new stake in Gravity in the second quarter worth approximately $209,000. BNP Paribas Financial Markets lifted its position in shares of Gravity by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,137 shares of the technology company’s stock valued at $1,609,000 after acquiring an additional 3,030 shares during the period. Finally, Caprock Group LLC bought a new stake in Gravity in the second quarter valued at $394,000. 9.92% of the stock is currently owned by institutional investors and hedge funds.

Gravity Stock Performance

Shares of NASDAQ GRVY traded down $1.13 during mid-day trading on Friday, reaching $65.78. The company had a trading volume of 30,790 shares, compared to its average volume of 32,613. Gravity has a one year low of $57.37 and a one year high of $88.85. The business’s 50-day simple moving average is $64.79 and its 200 day simple moving average is $69.31. The firm has a market cap of $457.17 million, a price-to-earnings ratio of 7.33 and a beta of 1.32.

About Gravity

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.