POSCO (NYSE:PKX) Shares Gap Down – Time to Sell?

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped down before the market opened on Friday . The stock had previously closed at $46.26, but opened at $45.30. POSCO shares last traded at $45.22, with a volume of 23,504 shares traded.

Analyst Ratings Changes

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

POSCO Price Performance

The business has a 50-day moving average of $46.37 and a two-hundred day moving average of $57.47. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm has a market cap of $13.81 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.40 and a beta of 1.40.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.01 EPS for the quarter. POSCO had a net margin of 1.78% and a return on equity of 2.15%. The company had revenue of $13.53 billion during the quarter. On average, sell-side analysts anticipate that POSCO Holdings Inc. will post 4.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On POSCO

Several hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in POSCO by 2,229.6% in the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after buying an additional 76,719 shares during the period. Athos Capital Ltd purchased a new stake in shares of POSCO during the 3rd quarter valued at about $11,373,000. Janus Henderson Group PLC bought a new stake in POSCO in the 3rd quarter worth approximately $3,497,000. Seven Grand Managers LLC bought a new position in shares of POSCO in the 3rd quarter worth approximately $1,750,000. Finally, Creative Planning increased its stake in shares of POSCO by 36.8% in the 3rd quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock worth $3,766,000 after purchasing an additional 14,485 shares in 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.