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

POSCO Holdings Inc. (NYSE:PKX) gapped up before the market opened on Monday . The stock had previously closed at $49.69, but opened at $51.76. POSCO shares last traded at $51.81, with a volume of 15,812 shares traded.

Wall Street Analysts Forecast Growth

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

POSCO Stock Down 0.0 %

The company has a market capitalization of $15.86 billion, a P/E ratio of 18.33, a P/E/G ratio of 0.62 and a beta of 1.44. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $63.84 and a 200-day simple moving average of $65.67.

Institutional Trading of POSCO

Large investors have recently bought and sold shares of the business. Seven Grand Managers LLC bought a new position in POSCO in the third quarter valued at approximately $1,750,000. CWM LLC raised its holdings in shares of POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 373 shares during the period. Creative Planning lifted its position in POSCO by 36.8% in the 3rd quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after acquiring an additional 14,485 shares in the last quarter. GAMMA Investing LLC boosted its stake in POSCO by 138.0% in the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 505 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in POSCO during the 3rd quarter worth about $49,000.

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.