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

POSCO Holdings Inc. (NYSE:PKX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $53.83, but opened at $52.35. POSCO shares last traded at $52.26, with a volume of 55,244 shares.

Analyst Ratings Changes

Separately, StockNews.com raised POSCO from a “hold” rating to a “buy” rating in a report on Tuesday.

POSCO Price Performance

The firm has a fifty day simple moving average of $64.90 and a two-hundred day simple moving average of $66.43. The firm has a market cap of $15.71 billion, a PE ratio of 18.18, a PEG ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03.

Hedge Funds Weigh In On POSCO

Several hedge funds and other institutional investors have recently modified their holdings of PKX. Seven Grand Managers LLC acquired a new stake in shares of POSCO in the third quarter worth $1,750,000. CWM LLC raised its position in POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 373 shares in the last quarter. Headlands Technologies LLC acquired a new position in POSCO in the 1st quarter worth about $27,000. Creative Planning boosted its position 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 acquiring an additional 14,485 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of POSCO by 138.0% during the third 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.

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.