POSCO (NYSE:PKX) Shares Gap Down - Should You Sell?

POSCO (NYSE:PKX - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $57.16, but opened at $55.44. POSCO shares last traded at $54.45, with a volume of 17,792 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on PKX. Morgan Stanley upgraded POSCO from an "equal weight" rating to an "overweight" rating in a research note on Friday, July 4th. Wall Street Zen downgraded POSCO from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th.

POSCO Stock Up 0.1%

The company has a 50 day simple moving average of $48.93 and a two-hundred day simple moving average of $47.10. The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $16.94 billion, a P/E ratio of 34.88, a PEG ratio of 0.39 and a beta of 1.35.

POSCO (NYSE:PKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). POSCO had a return on equity of 1.45% and a net margin of 1.20%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.12 billion. As a group, equities analysts predict that POSCO will post 3.74 EPS for the current year.

Institutional Trading of POSCO

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 1,231 shares during the period. Deutsche Bank AG acquired a new position in shares of POSCO in the 4th quarter valued at $770,000. Two Sigma Investments LP acquired a new position in shares of POSCO in the 4th quarter valued at $1,062,000. Ovata Capital Management Ltd acquired a new position in shares of POSCO in the 4th quarter valued at $4,791,000. Finally, Northern Trust Corp increased its position 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 acquiring an additional 262,257 shares during the period.

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.