Radius Recycling (NASDAQ:RDUS) Upgraded by StockNews.com to Hold

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

Separately, Seaport Res Ptn cut Radius Recycling from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 28th.

Radius Recycling Stock Up 1.5 %

NASDAQ RDUS traded up $0.27 during trading hours on Wednesday, hitting $17.91. 315,634 shares of the company traded hands, compared to its average volume of 219,987. The business’s 50-day moving average is $20.29 and its 200-day moving average is $24.23. Radius Recycling has a twelve month low of $16.90 and a twelve month high of $36.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96. The stock has a market capitalization of $501.12 million, a price-to-earnings ratio of -7.86 and a beta of 1.60.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.05. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The firm had revenue of $621.06 million during the quarter, compared to analysts’ expectations of $626.35 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Radius Recycling will post -3.53 earnings per share for the current year.

Hedge Funds Weigh In On Radius Recycling

A number of large investors have recently made changes to their positions in RDUS. Fisher Asset Management LLC acquired a new stake in shares of Radius Recycling during the 4th quarter valued at $4,488,000. Green Alpha Advisors LLC acquired a new stake in shares of Radius Recycling during the 1st quarter valued at $967,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Radius Recycling during the 1st quarter valued at $367,000. Finally, Unison Advisors LLC acquired a new stake in shares of Radius Recycling during the 1st quarter valued at $226,000. Institutional investors own 78.11% of the company’s stock.

About Radius Recycling

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.