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

POSCO (NYSE:PKX - Get Free Report) shares 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.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded POSCO from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th.

POSCO Price Performance

The stock has a 50 day moving average price of $46.57 and a two-hundred day moving average price of $46.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.89. The company has a market capitalization of $16.47 billion, a PE ratio of 33.91, a P/E/G ratio of 0.37 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). POSCO had a return on equity of 1.45% and a net margin of 1.20%. The firm had revenue of $12 billion for the quarter, compared to analysts' expectations of $12.12 billion. Equities analysts forecast that POSCO will post 3.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Parvin Asset Management LLC acquired a new position in shares of POSCO during the 4th quarter valued at about $29,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of POSCO during the 4th quarter valued at about $41,000. GAMMA Investing LLC increased its holdings 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 acquiring an additional 1,231 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of POSCO by 938.0% during the 1st quarter. Brooklyn Investment Group now owns 2,647 shares of the basic materials company's stock valued at $126,000 after acquiring an additional 2,392 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of POSCO by 10.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock valued at $162,000 after acquiring an additional 316 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.