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

POSCO Holdings Inc. (NYSE:PKX) shares gapped down prior to trading on Friday . The stock had previously closed at $53.60, but opened at $51.05. POSCO shares last traded at $51.00, with a volume of 33,502 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of POSCO from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

POSCO Stock Down 3.7 %

The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.66 and a beta of 1.44. The stock’s fifty day simple moving average is $61.46 and its two-hundred day simple moving average is $64.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45.

Hedge Funds Weigh In On POSCO

Several institutional investors have recently modified their holdings of PKX. Public Employees Retirement System of Ohio bought a new position in POSCO in the 3rd quarter valued at about $2,082,000. Jane Street Group LLC boosted its position in shares of POSCO by 2,229.6% during the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 76,719 shares in the last quarter. State Street Corp boosted its position in shares of POSCO by 1.6% during the 3rd quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock valued at $54,697,000 after purchasing an additional 12,193 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of POSCO by 73.2% during the 3rd quarter. Quantinno Capital Management LP now owns 16,792 shares of the basic materials company’s stock valued at $1,175,000 after purchasing an additional 7,095 shares in the last quarter. Finally, Recurrent Investment Advisors LLC boosted its position in shares of POSCO by 46.1% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 14,002 shares of the basic materials company’s stock valued at $980,000 after purchasing an additional 4,415 shares in 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.