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

POSCO Holdings Inc. (NYSE:PKX)’s stock price 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 trading hands.

Analyst Ratings Changes

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

POSCO Stock Performance

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 stock has a market capitalization of $13.33 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 0.58 and a beta of 1.38. The firm’s fifty day moving average is $51.15 and its 200-day moving average is $60.58.

Hedge Funds Weigh In On POSCO

Several large investors have recently made changes to their positions in PKX. CWM LLC boosted its holdings in POSCO by 16.3% during the 3rd quarter. CWM LLC now owns 2,331 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 327 shares during the period. PDS Planning Inc lifted its position in shares of POSCO by 11.4% during the third quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 416 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of POSCO by 5.0% in the second quarter. Profund Advisors LLC now owns 9,174 shares of the basic materials company’s stock valued at $603,000 after purchasing an additional 435 shares during the period. GAMMA Investing LLC grew its holdings 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 valued at $61,000 after purchasing an additional 505 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in POSCO by 9.6% during the 3rd quarter. Ballentine Partners LLC now owns 6,710 shares of the basic materials company’s stock worth $470,000 after buying an additional 588 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.