POSCO (NYSE:PKX) Shares Gap Up - What's Next?

Shares of POSCO Holdings Inc. (NYSE:PKX - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $39.82, but opened at $42.16. POSCO shares last traded at $42.74, with a volume of 64,950 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered POSCO from a "buy" rating to a "hold" rating in a report on Thursday, January 2nd.

POSCO Trading Down 0.4 %

The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $44.33 and a 200-day simple moving average of $55.49. The company has a market capitalization of $12.98 billion, a PE ratio of 15.00, a PEG ratio of 1.93 and a beta of 1.39.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of POSCO by 16.3% during the 3rd quarter. CWM LLC now owns 2,331 shares of the basic materials company's stock worth $163,000 after purchasing an additional 327 shares during the period. Creative Planning lifted its position in POSCO by 36.8% in the third quarter. Creative Planning now owns 53,801 shares of the basic materials company's stock valued at $3,766,000 after buying an additional 14,485 shares during the last quarter. Blue Trust Inc. boosted its stake in POSCO by 152.9% during the third quarter. Blue Trust Inc. now owns 17,250 shares of the basic materials company's stock worth $1,134,000 after buying an additional 10,428 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of POSCO in the 3rd quarter valued at approximately $49,000. Finally, Ballentine Partners LLC lifted its holdings in shares of POSCO by 9.6% in the 3rd quarter. Ballentine Partners LLC now owns 6,710 shares of the basic materials company's stock worth $470,000 after acquiring an additional 588 shares during the last quarter.

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.