POSCO Holdings Inc. (NYSE:PKX) Sees Significant Increase in Short Interest

POSCO Holdings Inc. (NYSE:PKX) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,060,000 shares, an increase of 28.9% from the November 30th total of 822,300 shares. Based on an average daily volume of 347,900 shares, the short-interest ratio is currently 3.0 days. Approximately 0.4% of the company’s shares are sold short.

POSCO Trading Down 0.8 %

Shares of PKX stock opened at $43.37 on Friday. The firm’s 50-day simple moving average is $52.58 and its 200-day simple moving average is $61.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. POSCO has a 1-year low of $42.74 and a 1-year high of $96.98. The firm has a market cap of $13.16 billion, a P/E ratio of 15.22, a PEG ratio of 0.58 and a beta of 1.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded POSCO from a “hold” rating to a “buy” rating in a research note on Wednesday.

Hedge Funds Weigh In On POSCO

Large investors have recently bought and sold shares of the stock. Athos Capital Ltd purchased a new stake in shares of POSCO during the 3rd quarter valued at $11,373,000. Maven Securities LTD purchased a new stake in POSCO during the third quarter valued at about $10,191,000. Jane Street Group LLC increased its stake in POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after acquiring an additional 76,719 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of POSCO by 32.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after purchasing an additional 61,528 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of POSCO in the 3rd quarter valued at about $3,497,000.

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.