Radius Recycling (NASDAQ:RDUS) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS) from a sell rating to a hold rating in a research report sent to investors on Friday.

Separately, Seaport Res Ptn upgraded Radius Recycling from a strong sell rating to a hold rating in a report on Thursday, May 30th.

Radius Recycling Price Performance

Shares of RDUS stock opened at $19.05 on Friday. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $15.87 and its 200-day moving average is $16.90. The firm has a market capitalization of $534.16 million, a price-to-earnings ratio of -1.96 and a beta of 1.52.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.07. The business had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. Radius Recycling had a negative return on equity of 5.89% and a negative net margin of 10.28%. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Sell-side analysts forecast that Radius Recycling will post -3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP bought a new stake in shares of Radius Recycling in the second quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Radius Recycling during the 2nd quarter worth approximately $30,000. Millburn Ridgefield Corp bought a new position in shares of Radius Recycling during the 1st quarter worth approximately $33,000. Banque Cantonale Vaudoise raised its holdings in shares of Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 564 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Radius Recycling in the first quarter worth $51,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Radius Recycling Company Profile

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.