Short Interest in POSCO Holdings Inc. (NYSE:PKX) Declines By 19.4%

POSCO Holdings Inc. (NYSE:PKX) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 623,500 shares, a decrease of 19.4% from the February 28th total of 773,400 shares. Based on an average daily volume of 328,500 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Northern Trust Corp grew its stake in shares of POSCO by 157.0% during the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock valued at $18,613,000 after buying an additional 262,257 shares during the last quarter. Athos Capital Ltd bought a new stake in shares of POSCO during the third quarter worth $11,373,000. Maven Securities LTD bought a new stake in shares of POSCO during the third quarter worth $10,191,000. Ovata Capital Management Ltd purchased a new stake in shares of POSCO during the fourth quarter valued at $4,791,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of POSCO in the fourth quarter worth about $3,801,000.

Wall Street Analyst Weigh In

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

POSCO Price Performance

PKX stock opened at $48.67 on Monday. POSCO has a 52 week low of $39.40 and a 52 week high of $78.07. The firm has a market capitalization of $14.77 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. The company has a fifty day simple moving average of $47.12 and a two-hundred day simple moving average of $52.83. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

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.