Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Down 28.5% in September

Radius Recycling, Inc. (NASDAQ:RDUS) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 419,700 shares, a decrease of 28.5% from the September 15th total of 587,100 shares. Based on an average daily trading volume, of 189,500 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.6% of the shares of the company are sold short.

Radius Recycling Price Performance

RDUS stock traded up $0.36 during midday trading on Friday, reaching $18.58. The company had a trading volume of 147,935 shares, compared to its average volume of 226,447. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $31.70. The stock has a 50 day moving average price of $16.04 and a 200-day moving average price of $16.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. The company has a market capitalization of $520.96 million, a price-to-earnings ratio of -1.91 and a beta of 1.53.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Radius Recycling from a “sell” rating to a “hold” rating in a research report on Wednesday.

Hedge Funds Weigh In On Radius Recycling

Hedge funds have recently bought and sold shares of the company. Creative Planning grew its position in Radius Recycling by 70.5% during the third quarter. Creative Planning now owns 38,413 shares of the basic materials company’s stock valued at $712,000 after buying an additional 15,886 shares during the period. Green Alpha Advisors LLC lifted its holdings in shares of Radius Recycling by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock worth $820,000 after acquiring an additional 925 shares during the last quarter. Founders Capital Management increased its stake in 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 purchasing an additional 600 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Radius Recycling in the second quarter worth about $30,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Radius Recycling in the 2nd quarter worth about $127,000. Institutional investors 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.