POSCO (NYSE:PKX) Shares Gap Up - Here's Why

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $49.25, but opened at $50.61. POSCO shares last traded at $51.31, with a volume of 57,658 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of POSCO from a "buy" rating to a "hold" rating in a research note on Thursday, January 2nd.

POSCO Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93. The firm has a market capitalization of $15.71 billion, a PE ratio of 23.75, a P/E/G ratio of 2.14 and a beta of 1.40. The stock has a fifty day moving average price of $44.78 and a 200-day moving average price of $54.03.

Institutional Trading of POSCO

A number of institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its position in POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company's stock valued at $5,610,000 after acquiring an additional 76,719 shares during the last quarter. Athos Capital Ltd acquired a new position in shares of POSCO during the third quarter worth $11,373,000. Janus Henderson Group PLC purchased a new stake in shares of POSCO during the 3rd quarter valued at $3,497,000. BNP Paribas Financial Markets boosted its position 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 in the last quarter. Finally, Maven Securities LTD purchased a new position in POSCO during the 3rd quarter worth $10,191,000.

Remove Ads

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.