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

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

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

Radius Recycling Stock Down 0.8 %

Shares of RDUS opened at $19.05 on Friday. The firm has a market cap of $534.16 million, a P/E ratio of -1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96. Radius Recycling has a 52 week low of $12.69 and a 52 week high of $31.70. The firm’s 50-day simple moving average is $15.87 and its 200 day simple moving average is $16.90.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RDUS. Point72 Asia Singapore Pte. Ltd. bought a new position in Radius Recycling in the 2nd quarter valued at about $30,000. Point72 Asset Management L.P. acquired a new position in shares of Radius Recycling during the 2nd quarter worth $127,000. Creative Planning acquired a new position in Radius Recycling during the second quarter worth about $344,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Radius Recycling in the 2nd quarter valued at approximately $525,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Radius Recycling by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 1,020 shares during the last quarter. Institutional investors and hedge funds 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.