POSCO (NYSE:PKX) Shares Gap Up – Time to Buy?

POSCO Holdings Inc. (NYSE:PKX)’s stock price gapped up before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

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

POSCO Trading Up 3.3 %

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’s 50 day moving average price is $44.43 and its 200 day moving average price is $54.21. The stock has a market capitalization of $15.45 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.14 and a beta of 1.39.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in shares of POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after buying an additional 76,719 shares during the period. Athos Capital Ltd purchased a new stake in shares of POSCO in the 3rd quarter worth about $11,373,000. Janus Henderson Group PLC purchased a new position in shares of POSCO during the third quarter valued at about $3,497,000. BNP Paribas Financial Markets raised its stake in POSCO by 32.1% in the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after buying an additional 61,528 shares in the last quarter. Finally, Maven Securities LTD purchased a new stake in POSCO in the third quarter worth about $10,191,000.

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.