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

Investment analysts at StockNews.com began coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research report issued on Tuesday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, The Goldman Sachs Group initiated coverage on shares of Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Trading Down 0.2 %

Radius Recycling stock opened at $29.00 on Tuesday. The stock has a market cap of $816.50 million, a P/E ratio of -2.89 and a beta of 1.67. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $29.16. The firm’s fifty day moving average price is $15.09 and its 200-day moving average price is $16.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02.

Radius Recycling (NASDAQ:RDUS) last announced its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The business had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. Radius Recycling’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.64) earnings per share. Equities research analysts forecast that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Radius Recycling during the 3rd quarter valued at about $32,000. Point72 DIFC Ltd bought a new position in Radius Recycling during the third quarter valued at approximately $46,000. Aquatic Capital Management LLC purchased a new position in shares of Radius Recycling during the fourth quarter worth approximately $68,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Radius Recycling in the 4th quarter worth approximately $140,000. 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.