POSCO (NYSE:PKX) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of POSCO (NYSE:PKX) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $53.92 and traded as high as $63.69. POSCO shares last traded at $63.53, with a volume of 171,015 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of POSCO in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

POSCO Price Performance

The business has a 50 day simple moving average of $56.32 and a 200 day simple moving average of $53.92. The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 0.25.

POSCO (NYSE:PKX) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($1.06). POSCO had a return on equity of 1.09% and a net margin of 0.97%.The business had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $11.85 billion. As a group, equities analysts predict that POSCO will post 3.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Founders Capital Management lifted its stake in shares of POSCO by 100.0% during the third quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after buying an additional 300 shares during the period. Allworth Financial LP raised its stake in POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 232 shares during the last quarter. Headlands Technologies LLC lifted its position in POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,328 shares during the period. MAI Capital Management purchased a new stake in POSCO during the 2nd quarter valued at about $73,000. Finally, Hantz Financial Services Inc. grew its stake in POSCO by 604.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,642 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 1,409 shares during the last quarter.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.