Radius Recycling (NASDAQ:RDUS) Shares Gap Up – What’s Next?

Radius Recycling, Inc. (NASDAQ:RDUS) gapped up before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

RDUS has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective for the company. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Radius Recycling Stock Performance

The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $794.76 million, a PE ratio of -2.83 and a beta of 1.67. The company 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 released its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The firm had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same quarter last year, the business posted ($0.64) earnings per share. Radius Recycling’s revenue was down 2.4% compared to the same quarter last year. Analysts predict that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

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

Institutional Investors Weigh In On Radius Recycling

Several hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new position in Radius Recycling in the third quarter worth $32,000. Point72 DIFC Ltd purchased a new position in shares of Radius Recycling in the 3rd quarter worth about $46,000. Aquatic Capital Management LLC purchased a new position in shares of Radius Recycling in the 4th quarter worth about $68,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of 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 last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Radius Recycling during the 4th quarter valued at about $140,000. 78.11% of the stock is currently owned by 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.