Radius Recycling (NASDAQ:RDUS) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Radius Recycling (NASDAQ:RDUS) in a note issued to investors on Tuesday. The firm set a “sell” rating on the basic materials company’s stock.

Radius Recycling Stock Up 0.2%

Radius Recycling stock opened at $29.45 on Tuesday. The business’s 50-day simple moving average is $28.79 and its two-hundred day simple moving average is $20.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The company has a market cap of $830.55 million, a PE ratio of -2.94 and a beta of 1.04. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $29.59.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.09. The firm had revenue of $642.51 million during the quarter, compared to the consensus estimate of $635.94 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. Equities analysts anticipate that Radius Recycling will post -3.84 EPS for the current year.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds have recently added to or reduced their stakes in RDUS. GAMMA Investing LLC lifted its holdings in shares of Radius Recycling by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock valued at $27,000 after buying an additional 410 shares during the period. Aquatic Capital Management LLC acquired a new stake in Radius Recycling during the fourth quarter worth about $68,000. Longfellow Investment Management Co. LLC purchased a new position in Radius Recycling during the first quarter valued at approximately $75,000. State of Wyoming acquired a new position in Radius Recycling in the first quarter valued at approximately $106,000. Finally, SG Americas Securities LLC acquired a new position in Radius Recycling in the fourth quarter valued at approximately $140,000. 78.11% of the stock is owned by hedge funds and other institutional investors.

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.