POSCO (NYSE:PKX) Shares Gap Down – Here’s What Happened

Shares of POSCO Holdings Inc. (NYSE:PKX) gapped down prior to trading on Friday . The stock had previously closed at $53.60, but opened at $51.05. POSCO shares last traded at $51.00, with a volume of 33,502 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

POSCO Price Performance

The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $61.81 and its two-hundred day moving average is $64.81. The firm has a market cap of $15.62 billion, a P/E ratio of 18.81, a P/E/G ratio of 0.66 and a beta of 1.44.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of POSCO during the third quarter valued at about $49,000. GAMMA Investing LLC raised its position in shares of POSCO by 138.0% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock valued at $61,000 after buying an additional 505 shares in the last quarter. CWM LLC lifted its stake in POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 373 shares during the last quarter. Choreo LLC bought a new position in POSCO during the second quarter valued at approximately $221,000. Finally, Bayesian Capital Management LP lifted its stake in shares of POSCO by 23.7% in the 1st quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 600 shares during the last quarter.

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.