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

POSCO Holdings Inc. (NYSE:PKX) shares saw unusually-high trading volume on Friday . Approximately 84,064 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 141,653 shares.The stock last traded at $49.90 and had previously closed at $52.38.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of POSCO from a “hold” rating to a “buy” rating in a research note on Tuesday.

POSCO Trading Down 5.4 %

The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $64.41 and its 200-day simple moving average is $66.23. The company has a market cap of $15.04 billion, a PE ratio of 17.39, a P/E/G ratio of 0.64 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

A number of institutional investors and hedge funds have recently bought and sold shares of PKX. Quantbot Technologies LP boosted its stake in POSCO by 1,788.4% during the first quarter. Quantbot Technologies LP now owns 2,927 shares of the basic materials company’s stock worth $230,000 after buying an additional 2,772 shares in the last quarter. Headlands Technologies LLC bought a new position in POSCO in the first quarter valued at approximately $27,000. Bayesian Capital Management LP grew its stake in shares of POSCO by 23.7% during the first quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 600 shares during the period. Confluence Investment Management LLC increased its stake in shares of POSCO by 3.0% in the 2nd quarter. Confluence Investment Management LLC now owns 6,420 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 185 shares during the last quarter. Finally, CWM LLC raised its position 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.

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.