POSCO (NYSE:PKX) Shares Gap Up – What’s Next?

POSCO Holdings Inc. (NYSE:PKX)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $53.32, but opened at $55.90. POSCO shares last traded at $56.02, with a volume of 136,348 shares traded.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of POSCO from a “buy” rating to a “hold” rating in a research report on Thursday, January 2nd.

POSCO Price Performance

The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $15.75 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The business’s 50-day simple moving average is $46.51 and its two-hundred day simple moving average is $53.38.

Institutional Investors Weigh In On POSCO

A number of institutional investors and hedge funds have recently modified their holdings of PKX. Northern Trust Corp lifted its holdings in shares of POSCO by 157.0% in the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock worth $18,613,000 after buying an additional 262,257 shares in the last quarter. Athos Capital Ltd purchased a new stake in shares of POSCO in the third quarter worth about $11,373,000. Maven Securities LTD purchased a new stake in shares of POSCO in the third quarter worth about $10,191,000. Ovata Capital Management Ltd purchased a new stake in shares of POSCO in the fourth quarter worth about $4,791,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of POSCO in the fourth quarter worth about $3,801,000.

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.