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

POSCO Holdings Inc. (NYSE:PKX) gapped up before the market opened on Monday . The stock had previously closed at $60.02, but opened at $62.54. POSCO shares last traded at $62.44, with a volume of 78,337 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised POSCO from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

POSCO Stock Down 0.6 %

The firm’s fifty day simple moving average is $65.93 and its two-hundred day simple moving average is $67.24. The company has a market capitalization of $18.91 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 0.45 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of POSCO in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new position in POSCO in the third quarter valued at about $49,000. GAMMA Investing LLC boosted its stake in POSCO by 138.0% during the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after buying an additional 505 shares during the period. Advisors Preferred LLC acquired a new stake in shares of POSCO during the first quarter valued at about $107,000. Finally, CWM LLC raised 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 valued at $132,000 after acquiring an additional 373 shares during the period.

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.