POSCO (NYSE:PKX) Shares Gap Down – Here’s Why

POSCO Holdings Inc. (NYSE:PKX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $53.83, but opened at $52.35. POSCO shares last traded at $52.26, with a volume of 55,244 shares traded.

Wall Street Analyst Weigh In

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

POSCO Trading Up 1.6 %

The company has a market cap of $15.90 billion, a P/E ratio of 18.09, a PEG ratio of 0.67 and a beta of 1.44. The stock’s 50 day moving average is $64.64 and its 200-day moving average is $66.32. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On POSCO

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in POSCO in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC bought a new position in POSCO in the 3rd quarter worth about $49,000. GAMMA Investing LLC lifted its stake in POSCO by 138.0% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 505 shares during the period. CWM LLC lifted its stake in POSCO by 22.9% during 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. Finally, Quantbot Technologies LP lifted its stake in POSCO by 1,788.4% during the 1st quarter. Quantbot Technologies LP now owns 2,927 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 2,772 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.