Radius Recycling (NASDAQ:RDUS) Shares Gap Up – Time to Buy?

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $13.66, but opened at $28.35. Radius Recycling shares last traded at $27.97, with a volume of 3,382,917 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RDUS shares. StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. The Goldman Sachs Group started coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective on the stock.

Radius Recycling Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. The stock has a market cap of $794.76 million, a PE ratio of -2.83 and a beta of 1.67. The business has a 50 day moving average price of $12.84 and a two-hundred day moving average price of $15.81.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The firm had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same period last year, the business earned ($0.64) EPS. Radius Recycling’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a yield of 2.66%. Radius Recycling’s dividend payout ratio is presently -7.49%.

Institutional Investors Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Radius Recycling during the third quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new stake in Radius Recycling in the third quarter worth $46,000. Aquatic Capital Management LLC bought a new stake in Radius Recycling in the fourth quarter valued at $68,000. Point72 Asia Singapore Pte. Ltd. increased its position in Radius Recycling by 172.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock valued at $99,000 after purchasing an additional 3,394 shares during the period. Finally, SG Americas Securities LLC bought a new position in Radius Recycling in the 4th quarter worth $140,000. Hedge funds and other institutional investors 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.