Gravity Co., Ltd. (NASDAQ:GRVY) Sees Large Growth in Short Interest

Gravity Co., Ltd. (NASDAQ:GRVY) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 36,400 shares, an increase of 93.6% from the November 15th total of 18,800 shares. Based on an average daily trading volume, of 31,500 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GRVY. Public Employees Retirement System of Ohio acquired a new stake in shares of Gravity during the third quarter worth $117,000. QRG Capital Management Inc. acquired a new stake in shares of Gravity in the 2nd quarter worth $209,000. Creative Planning boosted its holdings in shares of 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 in the last quarter. Caprock Group LLC acquired a new position in shares of Gravity during the second quarter worth about $394,000. Finally, Apis Capital Advisors LLC raised its holdings in Gravity by 88.9% during the second quarter. Apis Capital Advisors LLC now owns 17,000 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 8,000 shares in the last quarter. 9.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Gravity from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Gravity Trading Down 1.7 %

Shares of GRVY traded down $1.13 during mid-day trading on Friday, hitting $65.78. 30,790 shares of the company’s stock were exchanged, compared to its average volume of 32,613. The firm has a market capitalization of $457.17 million, a P/E ratio of 7.33 and a beta of 1.32. Gravity has a fifty-two week low of $57.37 and a fifty-two week high of $88.85. The business’s 50 day moving average is $64.79 and its two-hundred day moving average is $69.31.

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.