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

POSCO Holdings Inc. (NYSE:PKX) gapped up prior to trading on Friday . The stock had previously closed at $42.56, but opened at $44.00. POSCO shares last traded at $43.92, with a volume of 24,583 shares changing hands.

Wall Street Analyst Weigh In

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

POSCO Stock Performance

The stock’s 50-day moving average is $50.83 and its 200 day moving average is $60.42. The firm has a market cap of $13.43 billion, a P/E ratio of 15.52, a PEG ratio of 0.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03.

Institutional Trading of POSCO

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in POSCO during the 3rd quarter worth about $49,000. GAMMA Investing LLC lifted its position in shares of POSCO by 138.0% in the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 505 shares in the last quarter. CWM LLC boosted its holdings in POSCO by 16.3% during the third quarter. CWM LLC now owns 2,331 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 327 shares during the last quarter. Choreo LLC bought a new position in POSCO in the second quarter valued at $221,000. Finally, PDS Planning Inc increased its stake in POSCO by 11.4% in the 3rd quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock valued at $284,000 after buying an additional 416 shares during the last quarter.

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.