POSCO (NYSE:PKX) Shares Gap Up – Time to Buy?

POSCO Holdings Inc. (NYSE:PKX) gapped up prior to trading on Monday . The stock had previously closed at $49.69, but opened at $51.76. POSCO shares last traded at $51.81, with a volume of 15,812 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded POSCO from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th.

POSCO Stock Up 5.0 %

The business’s fifty day moving average is $64.20 and its two-hundred day moving average is $65.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. The company has a market cap of $15.83 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 0.62 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

A number of hedge funds and other institutional investors have recently made changes to their positions in PKX. Public Employees Retirement System of Ohio bought a new position in POSCO in the third quarter worth about $2,082,000. Jane Street Group LLC lifted its stake in 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 acquiring an additional 76,719 shares during the period. State Street Corp lifted its position in POSCO by 1.6% during the third 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 during the period. Quantinno Capital Management LP boosted its holdings in POSCO by 73.2% in the third 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 during the last quarter. Finally, Recurrent Investment Advisors LLC raised its stake 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 buying an additional 4,415 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.