Short Interest in POSCO (NYSE:PKX) Increases By 53.0%

POSCO (NYSE:PKX) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 236,400 shares, a growth of 53.0% from the August 15th total of 154,500 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 173,700 shares, the days-to-cover ratio is currently 1.4 days.

Separately, Zacks Investment Research upgraded shares of POSCO from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.00.

PKX traded down $0.08 during trading on Wednesday, hitting $39.88. The stock had a trading volume of 139,579 shares, compared to its average volume of 235,569. The company has a 50 day simple moving average of $40.81 and a 200-day simple moving average of $37.65. POSCO has a 12 month low of $26.27 and a 12 month high of $52.80. The company has a current ratio of 2.07, a quick ratio of 1.53 and a debt-to-equity ratio of 0.28. The firm has a market cap of $13.91 billion, a PE ratio of 10.20, a P/E/G ratio of 3.10 and a beta of 1.14.

Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA increased its holdings in shares of POSCO by 50.3% during the 2nd quarter. Glenmede Trust Co. NA now owns 801 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 268 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of POSCO by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 22,338 shares of the basic materials company’s stock worth $729,000 after purchasing an additional 278 shares during the period. CIBC World Markets Inc. increased its holdings in shares of POSCO by 0.5% during the 1st quarter. CIBC World Markets Inc. now owns 56,138 shares of the basic materials company’s stock worth $1,833,000 after purchasing an additional 300 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of POSCO by 6.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,328 shares of the basic materials company’s stock worth $174,000 after purchasing an additional 328 shares during the period. Finally, Natixis Advisors L.P. increased its holdings in shares of POSCO by 3.8% during the 2nd quarter. Natixis Advisors L.P. now owns 16,682 shares of the basic materials company’s stock worth $618,000 after purchasing an additional 606 shares during the period. Institutional investors own 3.18% of the company’s stock.

POSCO Company Profile

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, wire rods, galvanized and electrical galvanized steel, steel plates, electrical and stainless steel, and titanium.

Further Reading: How to find the components of the quick ratio

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