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

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

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

Radius Recycling Trading Up 2.1 %

NASDAQ RDUS traded up $0.29 on Tuesday, hitting $13.96. 166,552 shares of the company were exchanged, compared to its average volume of 190,148. Radius Recycling has a twelve month low of $12.69 and a twelve month high of $33.92. The company’s 50 day moving average price is $15.83 and its 200-day moving average price is $18.64. The firm has a market capitalization of $391.44 million, a P/E ratio of -1.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92.

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

Institutional Trading of Radius Recycling

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC bought a new position in Radius Recycling during the fourth quarter valued at approximately $4,488,000. Green Alpha Advisors LLC bought a new position in shares of Radius Recycling during the 1st quarter valued at $967,000. Unison Advisors LLC bought a new stake in Radius Recycling in the first quarter worth $226,000. Allspring Global Investments Holdings LLC acquired a new position in Radius Recycling during the first quarter worth $367,000. Finally, Millburn Ridgefield Corp bought a new position in Radius Recycling during the first quarter valued at about $33,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

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.