Radius Recycling (NASDAQ:RDUS) Rating Increased 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 published on Wednesday.

Radius Recycling Trading Up 2.0 %

NASDAQ RDUS opened at $18.58 on Wednesday. The firm’s fifty day moving average is $16.04 and its two-hundred day moving average is $16.89. Radius Recycling has a one year low of $12.69 and a one year high of $31.70. 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 firm has a market cap of $520.96 million, a PE ratio of -1.91 and a beta of 1.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millburn Ridgefield Corp acquired a new stake in shares of Radius Recycling during the first quarter worth $33,000. Founders Capital Management lifted its stake in shares of Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Gladius Capital Management LP acquired a new position in shares of Radius Recycling during the second quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Radius Recycling during the second quarter worth about $30,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Radius Recycling in the first quarter valued at about $51,000. 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.