POSCO Holdings Inc. (NYSE:PKX) Short Interest Down 18.8% in February

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

Hedge Funds Weigh In On POSCO

Hedge funds have recently made changes to their positions in the stock. Parvin Asset Management LLC purchased a new position in shares of POSCO in the fourth quarter valued at $29,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in POSCO during the fourth quarter valued at $41,000. R Squared Ltd bought a new stake in POSCO during the fourth quarter valued at $46,000. Wilmington Savings Fund Society FSB boosted its stake in POSCO by 5,312.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company’s stock valued at $94,000 after buying an additional 2,125 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in POSCO by 49.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock valued at $97,000 after buying an additional 735 shares during the period.

Analysts Set New Price Targets

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

POSCO Stock Performance

NYSE:PKX opened at $53.34 on Thursday. The company has a market capitalization of $16.19 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.14 and a beta of 1.40. POSCO has a 1 year low of $39.40 and a 1 year high of $81.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The business has a fifty day simple moving average of $46.14 and a two-hundred day simple moving average of $53.45.

About POSCO

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.