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

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

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

POSCO Stock Down 4.0 %

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 firm has a market cap of $15.62 billion, a P/E ratio of 18.81, a P/E/G ratio of 0.66 and a beta of 1.44. The stock’s 50 day simple moving average is $61.81 and its two-hundred day simple moving average is $64.81.

Hedge Funds Weigh In On POSCO

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bayesian Capital Management LP grew its holdings in shares of POSCO by 23.7% during the first quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock valued at $246,000 after buying an additional 600 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of POSCO by 3.0% during the 2nd quarter. Confluence Investment Management LLC now owns 6,420 shares of the basic materials company’s stock valued at $422,000 after buying an additional 185 shares in the last quarter. CWM LLC lifted its position 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 valued at $132,000 after acquiring an additional 373 shares in the last quarter. Gilman Hill Asset Management LLC boosted its stake in POSCO by 2.2% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 24,399 shares of the basic materials company’s stock worth $1,604,000 after purchasing an additional 535 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in shares of POSCO by 1.8% during the second quarter. Sequoia Financial Advisors LLC now owns 10,470 shares of the basic materials company’s stock worth $688,000 after acquiring an additional 183 shares during the last quarter.

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.