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

Shares of POSCO Holdings Inc. (NYSE:PKX - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $44.01, but opened at $45.15. POSCO shares last traded at $45.49, with a volume of 18,692 shares traded.

Analyst Ratings Changes

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

POSCO Price Performance

The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The business's 50-day simple moving average is $45.41 and its 200 day simple moving average is $46.56. The company has a market capitalization of $13.85 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.14 and a beta of 1.36.

POSCO (NYSE:PKX - Get Free Report) last released its earnings results on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.12 billion. As a group, sell-side analysts anticipate that POSCO Holdings Inc. will post 3.74 EPS for the current year.

Institutional Trading of POSCO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings 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 worth $20,117,000 after purchasing an additional 154,100 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of POSCO by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company's stock worth $307,000 after purchasing an additional 495 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of POSCO in the 1st quarter worth approximately $7,814,000. OLD Mission Capital LLC bought a new stake in shares of POSCO in the 1st quarter worth approximately $1,040,000. Finally, Vident Advisory LLC raised its holdings in shares of POSCO by 25.8% in the 1st quarter. Vident Advisory LLC now owns 45,862 shares of the basic materials company's stock worth $2,180,000 after purchasing an additional 9,408 shares in 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.