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

POSCO Holdings Inc. (NYSE:PKX) shares gapped up prior to trading 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised POSCO from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

POSCO Stock Up 5.0 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. The stock has a 50-day moving average of $64.20 and a two-hundred day moving average of $65.98. The company has a market cap of $15.83 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.62 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of POSCO in the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC purchased a new stake in POSCO during the 3rd quarter valued at $49,000. GAMMA Investing LLC lifted its holdings 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 valued at $61,000 after buying an additional 505 shares during the period. CWM LLC boosted its stake in shares of POSCO by 22.9% in the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after buying an additional 373 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its stake in shares of POSCO by 23.7% in the 1st quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock worth $246,000 after buying an additional 600 shares during the last quarter.

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.