Radius Recycling (NASDAQ:RDUS) Stock Rating Upgraded by StockNews.com

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

Radius Recycling Stock Up 0.5 %

Shares of Radius Recycling stock opened at $19.92 on Friday. The stock has a market capitalization of $558.54 million, a P/E ratio of -2.13 and a beta of 1.55. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $17.21 and a two-hundred day moving average price of $16.65. Radius Recycling has a 12-month low of $12.69 and a 12-month high of $31.70.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The company had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same period in the prior year, the business earned $0.47 earnings per share. Radius Recycling’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts expect that Radius Recycling will post -1.02 earnings per share for the current year.

Insider Activity

In other news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at approximately $2,284,962.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds have recently modified their holdings of RDUS. Gladius Capital Management LP acquired a new position in shares of Radius Recycling in the second quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Radius Recycling in the second quarter valued at $30,000. Founders Capital Management raised its stake in shares of Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 564 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Radius Recycling in the first quarter valued at $51,000. 78.11% of the stock is 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.