Weiss Ratings Reaffirms Hold (C) Rating for GRAVITY (NASDAQ:GRVY)

Key Points

• Weiss Ratings has reiterated a "hold" rating for GRAVITY (NASDAQ: GRVY), following a recent downgrade by Wall Street Zen from a "buy" to a "hold" rating.
• GRAVITY's trading performance shows a market cap of $427.22 million and recent earnings results indicated an EPS of $1.41 and revenue of $126.15 million for the last quarter.
• Institutional investors have significantly increased their holdings in GRAVITY, with notable increases from firms like Cambridge Investment Research Advisors and GAMMA Investing, indicating growing confidence in the company.

GRAVITY (NASDAQ:GRVY - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded GRAVITY from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, GRAVITY has a consensus rating of "Hold".

GRAVITY Trading Up 1.4%

Shares of GRVY opened at $61.47 on Wednesday. The firm has a market cap of $427.22 million, a PE ratio of 7.37 and a beta of 1.32. The company's 50 day simple moving average is $64.07 and its 200-day simple moving average is $62.83. GRAVITY has a 12-month low of $53.12 and a 12-month high of $70.00.

GRAVITY (NASDAQ:GRVY - Get Free Report) last announced its earnings results on Friday, August 8th. The technology company reported $1.41 earnings per share (EPS) for the quarter. The business had revenue of $126.15 million for the quarter. GRAVITY had a net margin of 17.60% and a return on equity of 17.45%.

Institutional Investors Weigh In On GRAVITY

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in GRAVITY by 64.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,742 shares of the technology company's stock valued at $408,000 after acquiring an additional 2,645 shares during the period. Acadian Asset Management LLC lifted its holdings in GRAVITY by 8.7% in the first quarter. Acadian Asset Management LLC now owns 233,983 shares of the technology company's stock valued at $14,126,000 after acquiring an additional 18,826 shares during the period. GAMMA Investing LLC lifted its holdings in GRAVITY by 2,135.9% in the first quarter. GAMMA Investing LLC now owns 15,428 shares of the technology company's stock valued at $933,000 after acquiring an additional 14,738 shares during the period. Militia Capital Partners LP raised its stake in shares of GRAVITY by 63.5% during the 1st quarter. Militia Capital Partners LP now owns 45,656 shares of the technology company's stock worth $2,762,000 after buying an additional 17,738 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of GRAVITY during the 1st quarter worth $202,000. Institutional investors and hedge funds own 9.92% of the company's stock.

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.

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