POSCO Holdings Inc. (NYSE:PKX) Short Interest Down 19.4% in November

POSCO Holdings Inc. (NYSE:PKX) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 822,300 shares, a drop of 19.4% from the November 15th total of 1,020,000 shares. Based on an average daily volume of 305,100 shares, the short-interest ratio is currently 2.7 days. Approximately 0.3% of the shares of the stock are sold short.

POSCO Trading Down 1.6 %

NYSE:PKX traded down $0.76 during trading hours on Friday, hitting $46.70. The company had a trading volume of 351,084 shares, compared to its average volume of 164,409. POSCO has a 52 week low of $45.10 and a 52 week high of $96.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The stock has a 50-day moving average price of $56.81 and a 200 day moving average price of $62.90. The company has a market capitalization of $14.17 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38.

Hedge Funds Weigh In On POSCO

Several institutional investors and hedge funds have recently added to or reduced their stakes in PKX. Allspring Global Investments Holdings LLC purchased a new position in shares of POSCO during the third quarter valued at approximately $49,000. GAMMA Investing LLC raised its holdings 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 acquiring an additional 505 shares during the last quarter. CWM LLC raised its stake in shares of POSCO by 22.9% in the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 373 shares during the last quarter. Choreo LLC bought a new stake in POSCO in the 2nd quarter worth about $221,000. Finally, PDS Planning Inc lifted its stake in POSCO by 11.4% during the 3rd quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 416 shares during the period.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.