POSCO (NYSE:PKX) Sees Large Volume Increase – What’s Next?

POSCO Holdings Inc. (NYSE:PKX) saw unusually-high trading volume on Monday . Approximately 567,482 shares changed hands during trading, an increase of 174% from the previous session’s volume of 206,929 shares.The stock last traded at $51.77 and had previously closed at $51.93.

Analyst Upgrades and Downgrades

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

POSCO Stock Performance

The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The company has a market cap of $15.77 billion, a PE ratio of 23.83, a P/E/G ratio of 2.14 and a beta of 1.40. The stock’s 50 day simple moving average is $46.51 and its two-hundred day simple moving average is $53.22.

Hedge Funds Weigh In On POSCO

A number of large investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its stake 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 increased its position in shares of POSCO by 13.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 645 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of POSCO in the fourth quarter worth $29,000. Avior Wealth Management LLC increased its position in shares of POSCO by 49.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 735 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of POSCO by 7.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 11,210 shares of the basic materials company’s stock worth $486,000 after acquiring an additional 820 shares in 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.