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

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped up before the market opened 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.

Analyst Upgrades and Downgrades

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

POSCO Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.58 and a beta of 1.40. The stock has a 50-day moving average price of $50.83 and a 200-day moving average price of $60.42.

Hedge Funds Weigh In On POSCO

Institutional investors and hedge funds have recently modified their holdings of the stock. Athos Capital Ltd acquired a new position in shares of POSCO in the third quarter valued at about $11,373,000. Maven Securities LTD bought a new stake in POSCO during the third quarter worth $10,191,000. Jane Street Group LLC lifted its position in shares of POSCO by 2,229.6% during the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after buying an additional 76,719 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of POSCO by 32.1% in the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after acquiring an additional 61,528 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of POSCO during the 3rd quarter valued at approximately $3,497,000.

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.