POSCO (NYSE:PKX) Stock Price Down 3.3% – What’s Next?

POSCO Holdings Inc. (NYSE:PKX)’s stock price traded down 3.3% during trading on Wednesday . The stock traded as low as $46.07 and last traded at $45.88. 117,721 shares changed hands during trading, a decline of 48% from the average session volume of 226,628 shares. The stock had previously closed at $47.44.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of POSCO from a “buy” rating to a “hold” rating in a report on Thursday, January 2nd.

POSCO Stock Down 2.0 %

The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The business has a fifty day moving average price of $47.21 and a two-hundred day moving average price of $52.54.

Hedge Funds Weigh In On POSCO

A number of institutional investors have recently bought and sold shares of the business. Parvin Asset Management LLC acquired a new stake in shares of POSCO in the fourth quarter worth $29,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in POSCO in the fourth quarter valued at $41,000. R Squared Ltd acquired a new stake in POSCO during the 4th quarter worth about $46,000. Wilmington Savings Fund Society FSB raised its stake in shares of POSCO by 5,312.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company’s stock valued at $94,000 after buying an additional 2,125 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of POSCO by 49.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company’s stock valued at $97,000 after buying an additional 735 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.