Short Interest in POSCO Holdings Inc. (NYSE:PKX) Declines By 18.8%

POSCO Holdings Inc. (NYSE:PKX) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 773,400 shares, a drop of 18.8% from the February 13th total of 952,900 shares. Based on an average daily volume of 317,900 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On POSCO

A number of institutional investors have recently bought and sold shares of PKX. Northern Trust Corp grew its stake in shares of POSCO by 157.0% in the 4th quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock valued at $18,613,000 after buying an additional 262,257 shares during the period. Athos Capital Ltd purchased a new position in POSCO in the third quarter worth approximately $11,373,000. Maven Securities LTD purchased a new position in POSCO in the third quarter worth approximately $10,191,000. Ovata Capital Management Ltd acquired a new stake in POSCO during the fourth quarter worth $4,791,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in POSCO in the fourth quarter valued at $3,801,000.

POSCO Trading Down 0.9 %

Shares of PKX traded down $0.50 during midday trading on Tuesday, reaching $52.46. The company had a trading volume of 146,650 shares, compared to its average volume of 196,825. The firm has a 50 day simple moving average of $45.82 and a 200-day simple moving average of $53.53. 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 stock has a market cap of $15.92 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. POSCO has a 1-year low of $39.40 and a 1-year high of $81.94.

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.