POSCO (NYSE:PKX) Shares Gap Up - Should You Buy?

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $45.39, but opened at $47.03. POSCO shares last traded at $47.61, with a volume of 28,654 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of POSCO from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

POSCO Price Performance

The company's fifty day moving average is $45.09 and its two-hundred day moving average is $46.40. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

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 for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. POSCO had a net margin of 1.55% and a return on equity of 1.87%. Equities research analysts anticipate that POSCO Holdings Inc. will post 3.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POSCO

Several hedge funds have recently bought and sold shares of PKX. Northern Trust Corp raised its holdings in POSCO by 157.0% in the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company's stock worth $18,613,000 after purchasing an additional 262,257 shares during the period. Nomura Holdings Inc. bought a new position in POSCO in the first quarter valued at $7,814,000. Goldman Sachs Group Inc. grew its position in shares of POSCO by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company's stock valued at $20,117,000 after acquiring an additional 154,100 shares during the period. Ovata Capital Management Ltd bought a new position in shares of POSCO in the 4th quarter valued at about $4,791,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of POSCO in the 4th quarter valued at about $3,801,000.

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.