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

Shares of POSCO Holdings Inc. (NYSE:PKX) gapped up before the market opened on Monday . The stock had previously closed at $49.69, but opened at $51.76. POSCO shares last traded at $51.81, with a volume of 15,812 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday.

POSCO Stock Down 0.0 %

The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The company has a market cap of $15.86 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.62 and a beta of 1.44. The firm’s 50 day moving average price is $63.84 and its 200-day moving average price is $65.67.

Institutional Trading of POSCO

Institutional investors have recently bought and sold shares of the business. Seven Grand Managers LLC bought a new position in shares of POSCO in the 3rd quarter worth $1,750,000. CWM LLC lifted its stake in POSCO by 22.9% in the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after buying an additional 373 shares during the period. Creative Planning boosted its holdings in POSCO by 36.8% during the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock worth $3,766,000 after buying an additional 14,485 shares during the last quarter. GAMMA Investing LLC grew 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 worth $61,000 after buying an additional 505 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of POSCO in the 3rd quarter valued at about $49,000.

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.