POSCO (NYSE:PKX) Shares Gap Up - Here's What Happened

POSCO (NYSE:PKX - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $48.49, but opened at $50.67. POSCO shares last traded at $51.50, with a volume of 25,471 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PKX shares. Morgan Stanley raised shares of POSCO to an "overweight" rating in a research note on Friday. Wall Street Zen downgraded POSCO from a "hold" rating to a "sell" rating in a report on Saturday, June 14th.

POSCO Stock Up 4.9%

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 firm has a 50 day moving average of $47.01 and a two-hundred day moving average of $46.34. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 0.40 and a beta of 1.35.

POSCO (NYSE:PKX - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. POSCO had a net margin of 1.20% and a return on equity of 1.45%. As a group, sell-side analysts anticipate that POSCO will post 3.74 EPS for the current fiscal year.

Institutional Trading of POSCO

Hedge funds have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new position in shares of POSCO during the fourth quarter worth $29,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in POSCO during the 4th quarter worth $41,000. GAMMA Investing LLC increased its holdings in POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock worth $76,000 after purchasing an additional 1,231 shares in the last quarter. Brooklyn Investment Group raised its position in POSCO by 938.0% in the first quarter. Brooklyn Investment Group now owns 2,647 shares of the basic materials company's stock valued at $126,000 after purchasing an additional 2,392 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of POSCO by 10.2% during the first quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock valued at $162,000 after purchasing an additional 316 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.