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

POSCO Holdings Inc. (NYSE:PKX) shares gapped up prior to trading on Thursday . The stock had previously closed at $53.32, but opened at $55.90. POSCO shares last traded at $56.02, with a volume of 136,348 shares trading hands.

Analyst Ratings Changes

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

POSCO Price Performance

The business’s 50 day moving average is $46.51 and its two-hundred day moving average is $53.38. The firm has a market capitalization of $15.75 billion, a PE ratio of 23.81, a P/E/G ratio of 2.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in shares of POSCO by 18.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 35,096 shares of the basic materials company’s stock worth $1,522,000 after acquiring an additional 5,351 shares in the last quarter. Vise Technologies Inc. increased its stake in shares of POSCO by 256.0% in the fourth quarter. Vise Technologies Inc. now owns 11,012 shares of the basic materials company’s stock worth $477,000 after buying an additional 7,919 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of POSCO in the fourth quarter worth $3,516,000. Two Sigma Investments LP purchased a new position in shares of POSCO in the fourth quarter worth $1,062,000. Finally, Tidal Investments LLC purchased a new position in shares of POSCO in the fourth quarter worth $316,000.

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.