Gravity (GRVY) Cut to “Buy” at BidaskClub

Gravity (NASDAQ:GRVY) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Shares of Gravity (NASDAQ:GRVY) opened at $93.06 on Friday. The company has a market capitalization of $332.69, a PE ratio of 38.94 and a beta of 0.23. Gravity has a fifty-two week low of $10.92 and a fifty-two week high of $99.00.

A number of institutional investors and hedge funds have recently bought and sold shares of GRVY. Navellier & Associates Inc purchased a new stake in Gravity in the 2nd quarter valued at about $230,000. SG Americas Securities LLC purchased a new stake in Gravity in the 3rd quarter valued at about $581,000. Finally, Alpine Global Management LLC purchased a new stake in Gravity in the 2nd quarter valued at about $852,000. Institutional investors own 7.34% of the company’s stock.

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Gravity Company Profile

Gravity Co, Ltd. is a developer, distributor and publisher of online games in Japan and Taiwan. The Company’s segments include online games, mobile games and other. Its principal product includes Ragnarok Online, which is a multiplayer online role playing game. It categorizes products into over three categories, such as 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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