POSCO (NYSE:PKX) Shares Gap Down – What’s Next?

POSCO Holdings Inc. (NYSE:PKX) gapped down before the market opened on Friday . The stock had previously closed at $55.32, but opened at $53.05. POSCO shares last traded at $51.98, with a volume of 424,436 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded POSCO from a “buy” rating to a “hold” rating in a research report on Thursday, January 2nd.

POSCO Price Performance

The company has a 50-day moving average of $46.51 and a two-hundred day moving average of $53.30. The stock has a market capitalization of $15.75 billion, a PE ratio of 23.81, a P/E/G ratio of 2.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35.

Hedge Funds Weigh In On POSCO

Several large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of POSCO by 40.6% in the 3rd quarter. Victory Capital Management Inc. now owns 19,863 shares of the basic materials company’s stock worth $1,390,000 after purchasing an additional 5,731 shares during the period. Natixis Advisors LLC raised its holdings in shares of POSCO by 17.1% in the 3rd quarter. Natixis Advisors LLC now owns 26,599 shares of the basic materials company’s stock worth $1,862,000 after purchasing an additional 3,884 shares during the period. Cerity Partners LLC raised its holdings in shares of POSCO by 16.0% in the 3rd quarter. Cerity Partners LLC now owns 15,459 shares of the basic materials company’s stock worth $1,082,000 after purchasing an additional 2,138 shares during the period. FMR LLC raised its holdings in shares of POSCO by 53.4% in the 3rd quarter. FMR LLC now owns 18,285 shares of the basic materials company’s stock worth $1,280,000 after purchasing an additional 6,368 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of POSCO by 32.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after purchasing an additional 61,528 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.