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

Shares of 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.

Analyst Ratings Changes

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

POSCO Price Performance

The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The company has a fifty day simple moving average of $46.51 and a two-hundred day simple moving average of $53.30.

Institutional Trading of POSCO

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in shares of 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 stake in shares of POSCO during the third quarter valued at $11,373,000. Janus Henderson Group PLC acquired a new stake in shares of POSCO during the third quarter valued at $3,497,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of POSCO by 19.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock valued at $16,672,000 after acquiring an additional 63,336 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of POSCO by 32.1% during the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock valued at $17,711,000 after acquiring an additional 61,528 shares during the last quarter.

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.