Gravity (NASDAQ:GRVY) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, BidAskClub reports.

Separately, ValuEngine lowered shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th.

GRVY traded down $0.98 on Tuesday, reaching $43.20. 35,400 shares of the company’s stock were exchanged, compared to its average volume of 56,222. The firm has a market capitalization of $305.71 million, a PE ratio of 7.20 and a beta of -1.82. Gravity has a twelve month low of $15.44 and a twelve month high of $96.50. The business has a fifty day moving average price of $63.71.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in Gravity during the fourth quarter worth about $68,000. Mercer Global Advisors Inc. ADV acquired a new position in Gravity in the 1st quarter valued at about $240,000. ETF Managers Group LLC boosted its holdings in Gravity by 8.8% in the 1st quarter. ETF Managers Group LLC now owns 9,469 shares of the technology company’s stock valued at $610,000 after purchasing an additional 769 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in Gravity in the 1st quarter valued at about $966,000. Finally, Acadian Asset Management LLC boosted its holdings in Gravity by 34.6% in the 1st quarter. Acadian Asset Management LLC now owns 31,006 shares of the technology company’s stock valued at $1,999,000 after purchasing an additional 7,968 shares during the last quarter. Hedge funds and other institutional investors own 7.36% of the company’s stock.

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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