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

Radius Recycling (NASDAQ:RDUS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

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

Radius Recycling Stock Up 3.2 %

Radius Recycling stock opened at $14.76 on Wednesday. The firm has a market cap of $413.87 million, a price-to-earnings ratio of -1.52 and a beta of 1.52. 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 has a fifty-two week low of $12.69 and a fifty-two week high of $31.70. The firm has a fifty day moving average price of $15.63 and a two-hundred day moving average price of $17.49.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new stake in Radius Recycling in the second quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Radius Recycling in the second quarter valued at about $30,000. Millburn Ridgefield Corp bought a new stake in Radius Recycling in the first quarter valued at about $33,000. Banque Cantonale Vaudoise increased its stake in 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 acquiring an additional 564 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Radius Recycling in the first quarter valued at about $51,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Company Profile

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.