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

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $44.01, but opened at $45.15. POSCO shares last traded at $45.49, with a volume of 18,692 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised POSCO from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

POSCO Price Performance

The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.14 and a beta of 1.36. The stock has a 50-day moving average price of $45.77 and a two-hundred day moving average price of $46.69.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. As a group, equities research analysts forecast that POSCO Holdings Inc. will post 3.74 EPS for the current year.

Institutional Trading of POSCO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PKX. Parvin Asset Management LLC acquired a new stake in POSCO during the 4th quarter worth about $29,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in POSCO during the 4th quarter worth about $41,000. R Squared Ltd purchased a new position in shares of POSCO during the 4th quarter valued at about $46,000. GAMMA Investing LLC raised its stake in shares of POSCO by 329.1% during the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company’s stock valued at $76,000 after buying an additional 1,231 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of POSCO by 5,312.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company’s stock valued at $94,000 after buying an additional 2,125 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.