Short Interest in POSCO Holdings Inc. (NYSE:PKX) Declines By 18.8%

POSCO Holdings Inc. (NYSE:PKX) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 773,400 shares, a decline of 18.8% from the February 13th total of 952,900 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 317,900 shares, the days-to-cover ratio is currently 2.4 days.

POSCO Price Performance

PKX stock traded down $0.50 during mid-day trading on Tuesday, reaching $52.46. 146,650 shares of the company’s stock were exchanged, compared to its average volume of 196,825. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. POSCO has a 12-month low of $39.40 and a 12-month high of $81.94. The stock’s 50 day moving average is $45.82 and its 200 day moving average is $53.53. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40.

Institutional Investors Weigh In On POSCO

A number of institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its holdings in POSCO by 157.0% during the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock valued at $18,613,000 after purchasing an additional 262,257 shares in the last quarter. Athos Capital Ltd purchased a new position in shares of POSCO in the third quarter valued at approximately $11,373,000. Maven Securities LTD acquired a new stake in shares of POSCO in the third quarter worth approximately $10,191,000. Ovata Capital Management Ltd purchased a new stake in shares of POSCO during the fourth quarter worth approximately $4,791,000. Finally, Cubist Systematic Strategies LLC acquired a new position in POSCO in the 4th quarter valued at $3,801,000.

Analysts Set New Price Targets

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

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.