Radius Recycling (NASDAQ:RDUS) Downgraded by StockNews.com

Radius Recycling (NASDAQ:RDUS - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Friday.

Separately, Seaport Res Ptn lowered shares of Radius Recycling from a "neutral" rating to a "sell" rating in a report on Wednesday, February 28th.

Radius Recycling Trading Up 1.9 %

RDUS traded up $0.37 on Friday, reaching $19.98. 221,972 shares of the company traded hands, compared to its average volume of 199,137. Radius Recycling has a one year low of $17.04 and a one year high of $36.64. The firm has a fifty day simple moving average of $21.95 and a two-hundred day simple moving average of $25.03. The company has a market cap of $556.64 million, a P/E ratio of -21.26 and a beta of 1.60. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.31.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its quarterly earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.05. Radius Recycling had a negative net margin of 0.88% and a positive return on equity of 1.97%. The business had revenue of $621.06 million during the quarter, compared to analyst estimates of $626.35 million. During the same quarter in the previous year, the business posted $0.14 EPS. The company's quarterly revenue was down 17.8% compared to the same quarter last year. As a group, equities research analysts expect that Radius Recycling will post -3.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Portside Wealth Group LLC purchased a new position in shares of Radius Recycling in the 2nd quarter worth approximately $404,000. Trexquant Investment LP purchased a new position in shares of Radius Recycling in the 2nd quarter worth approximately $287,000. PNC Financial Services Group Inc. grew its position in shares of Radius Recycling by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,698 shares of the basic materials company's stock worth $144,000 after buying an additional 328 shares during the last quarter. US Bancorp DE grew its position in shares of Radius Recycling by 53.4% in the 1st quarter. US Bancorp DE now owns 2,339 shares of the basic materials company's stock worth $121,000 after buying an additional 814 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Radius Recycling by 43.9% in the 2nd quarter. Royal Bank of Canada now owns 3,641 shares of the basic materials company's stock worth $109,000 after buying an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors 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.

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