Gravity (NASDAQ:GRVY) Cut to “Hold” at BidaskClub

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BidaskClub cut shares of Gravity (NASDAQ:GRVY) from a buy rating to a hold rating in a research report report published on Monday, BidAskClub reports.

Separately, ValuEngine upgraded Gravity from a hold rating to a buy rating in a research note on Wednesday, March 20th.

Shares of GRVY stock opened at $47.28 on Monday. The stock has a market cap of $377.97 million, a price-to-earnings ratio of 8.90 and a beta of -1.43. The stock has a fifty day moving average price of $73.85. Gravity has a 1 year low of $15.44 and a 1 year high of $96.50.

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

A number of hedge funds have recently modified their holdings of GRVY. Handelsbanken Fonder AB purchased a new position in Gravity in the 1st quarter worth $966,000. Acadian Asset Management LLC grew its position in Gravity by 34.6% during 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 during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Gravity during the 1st quarter worth about $240,000. Nordea Investment Management AB acquired a new stake in Gravity during the 4th quarter worth about $68,000. Finally, ETF Managers Group LLC grew its position in Gravity by 8.8% during the 1st quarter. ETF Managers Group LLC now owns 9,469 shares of the technology company’s stock worth $610,000 after purchasing an additional 769 shares during the period.

Gravity Company Profile

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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