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

POSCO Holdings Inc. (NYSE:PKX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $39.82, but opened at $42.16. POSCO shares last traded at $42.74, with a volume of 64,950 shares traded.

Analyst Upgrades and Downgrades

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

POSCO Price Performance

The stock’s fifty day moving average is $44.49 and its 200-day moving average is $55.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market cap of $12.99 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.93 and a beta of 1.39.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in shares of POSCO by 2,229.6% in the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after acquiring an additional 76,719 shares during the last quarter. Athos Capital Ltd purchased a new position in shares of POSCO during the third quarter worth $11,373,000. Janus Henderson Group PLC acquired a new stake in shares of POSCO in the third quarter valued at $3,497,000. Seven Grand Managers LLC purchased a new stake in shares of POSCO in the 3rd quarter valued at $1,750,000. Finally, Creative Planning lifted its stake in POSCO by 36.8% during the 3rd quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock worth $3,766,000 after acquiring an additional 14,485 shares in 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.