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

Radius Recycling (NASDAQ:RDUS) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Radius Recycling Price Performance

NASDAQ RDUS opened at $19.92 on Friday. The stock’s 50-day moving average price is $17.21 and its two-hundred day moving average price is $16.65. The company has a current ratio of 1.92, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The company has a market cap of $558.54 million, a PE ratio of -2.13 and a beta of 1.55. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.18. The firm had revenue of $771.00 million for the quarter, compared to the consensus estimate of $680.80 million. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. On average, analysts predict that Radius Recycling will post -1.02 EPS for the current year.

Insider Activity

In other news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the transaction, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Radius Recycling

A number of hedge funds have recently added to or reduced their stakes in RDUS. Allspring Global Investments Holdings LLC acquired a new position in Radius Recycling in the first quarter worth approximately $367,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Radius Recycling in the first quarter worth approximately $236,000. BNP Paribas Financial Markets acquired a new position in Radius Recycling in the first quarter worth approximately $649,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Radius Recycling in the first quarter worth approximately $51,000. Finally, Empowered Funds LLC bought a new stake in Radius Recycling during the first quarter worth approximately $2,363,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

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.