POSCO (NYSE:PKX) Shares Gap Up – Still a Buy?

POSCO Holdings Inc. (NYSE:PKX) shares gapped up prior to trading on Thursday . The stock had previously closed at $49.25, but opened at $50.61. POSCO shares last traded at $51.31, with a volume of 57,658 shares changing hands.

Analysts Set New Price Targets

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

POSCO Trading Up 3.3 %

The firm’s fifty day moving average is $44.43 and its two-hundred day moving average is $54.21. 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 firm has a market capitalization of $15.45 billion, a PE ratio of 23.34, a PEG ratio of 2.14 and a beta of 1.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. boosted its position in POSCO by 4.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 6,257 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 249 shares during the period. Ameritas Advisory Services LLC raised its position in shares of POSCO by 13.0% during the 4th quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company’s stock valued at $243,000 after buying an additional 645 shares in the last quarter. Parvin Asset Management LLC purchased a new position in shares of POSCO in the 4th quarter worth about $29,000. Avior Wealth Management LLC grew its position 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 acquiring an additional 735 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in POSCO by 7.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 11,210 shares of the basic materials company’s stock worth $486,000 after purchasing an additional 820 shares during the period.

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.