POSCO (NYSE:PKX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of POSCO Holdings Inc. (NYSE:PKX) saw unusually-strong trading volume on Friday . Approximately 84,064 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 141,653 shares.The stock last traded at $49.90 and had previously closed at $52.38.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of POSCO from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

POSCO Price Performance

The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $15.08 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The stock’s 50-day moving average is $64.20 and its two-hundred day moving average is $66.06.

Institutional Trading of POSCO

A number of hedge funds have recently added to or reduced their stakes in PKX. Athos Capital Ltd purchased a new stake in shares of POSCO during the third quarter valued at about $11,373,000. Maven Securities LTD bought a new position in shares of POSCO during the 3rd quarter worth approximately $10,191,000. Jane Street Group LLC lifted its position in POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after acquiring an additional 76,719 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in POSCO by 32.1% in the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock valued at $17,711,000 after acquiring an additional 61,528 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in POSCO in the third quarter worth $3,497,000.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.