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

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

Radius Recycling Price Performance

Shares of RDUS opened at $29.51 on Monday. Radius Recycling has a 1-year low of $10.57 and a 1-year high of $29.59. The firm has a fifty day simple moving average of $27.51 and a two-hundred day simple moving average of $19.63. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The firm has a market cap of $832.24 million, a PE ratio of -2.95 and a beta of 1.04.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Radius Recycling by 76.2% in the first quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 410 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in Radius Recycling in the 1st quarter worth about $75,000. Aquatic Capital Management LLC purchased a new stake in Radius Recycling during the 4th quarter worth approximately $68,000. CWM LLC raised its holdings in shares of Radius Recycling by 160.3% during the first quarter. CWM LLC now owns 6,431 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 3,960 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Radius Recycling by 3,956.3% during the first quarter. Nisa Investment Advisors LLC now owns 7,139 shares of the basic materials company’s stock worth $206,000 after purchasing an additional 6,963 shares in the last quarter. Hedge funds and other 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.