Gravity (GRVY) Stock Rating Lowered by BidaskClub

Gravity (NASDAQ:GRVY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Shares of Gravity (GRVY) opened at $69.31 on Tuesday. The firm has a market cap of $241.30, a P/E ratio of 30.74 and a beta of 0.36. Gravity has a 12-month low of $13.18 and a 12-month high of $99.00.

Gravity (NASDAQ:GRVY) last issued its quarterly earnings data on Monday, October 30th. The technology company reported $0.68 earnings per share for the quarter. Gravity had a net margin of 9.78% and a return on equity of 26.08%.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Gravity during the 3rd quarter worth approximately $581,000. Navellier & Associates Inc purchased a new stake in shares of Gravity during the 2nd quarter worth approximately $230,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Gravity during the 2nd quarter worth approximately $852,000. Institutional investors and hedge funds own 7.34% of the company’s stock.

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About Gravity

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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