POSCO (NYSE:PKX) Shares Gap Up – Here’s Why

POSCO Holdings Inc. (NYSE:PKX) shares gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

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

POSCO Trading Up 4.1 %

The company has a market cap of $16.85 billion, a P/E ratio of 25.46, a P/E/G ratio of 2.14 and a beta of 1.40. The business has a fifty day simple moving average of $46.14 and a 200 day simple moving average of $53.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93.

Hedge Funds Weigh In On POSCO

Several large investors have recently added to or reduced their stakes in PKX. Parvin Asset Management LLC bought a new stake in POSCO during the fourth quarter valued at $29,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of POSCO during the 4th quarter valued at about $41,000. R Squared Ltd acquired a new stake in POSCO during the fourth quarter worth about $46,000. Wilmington Savings Fund Society FSB lifted its holdings in POSCO by 5,312.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company’s stock worth $94,000 after acquiring an additional 2,125 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in POSCO by 49.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 735 shares during the period.

About POSCO

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.