Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Up 21.9% in April

Radius Recycling, Inc. (NASDAQ:RDUS) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 564,500 shares, a growth of 21.9% from the March 31st total of 463,100 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 234,100 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Trading of Radius Recycling

A number of hedge funds have recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in shares of Radius Recycling in the first quarter worth approximately $33,000. Unison Advisors LLC acquired a new position in Radius Recycling in the 1st quarter worth approximately $226,000. Allspring Global Investments Holdings LLC purchased a new position in Radius Recycling during the 1st quarter worth approximately $367,000. Green Alpha Advisors LLC acquired a new stake in Radius Recycling during the 1st quarter valued at $967,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of Radius Recycling in the fourth quarter worth $4,488,000. 78.11% of the stock is owned by hedge funds and other institutional investors.

Radius Recycling Price Performance

RDUS stock traded down $0.57 on Tuesday, hitting $17.42. 283,637 shares of the company’s stock traded hands, compared to its average volume of 221,545. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The stock has a market cap of $487.41 million, a price-to-earnings ratio of -7.64 and a beta of 1.60. Radius Recycling has a 1-year low of $16.90 and a 1-year high of $36.64. The stock has a fifty day moving average of $19.61 and a 200-day moving average of $23.90.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings data on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.05. The company had revenue of $621.06 million during the quarter, compared to the consensus estimate of $626.35 million. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The company’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, analysts forecast that Radius Recycling will post -3.53 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 22nd will be paid a $0.1875 dividend. The ex-dividend date is Friday, April 19th. This represents a $0.75 dividend on an annualized basis and a yield of 4.31%. Radius Recycling’s dividend payout ratio is currently -32.89%.

Analyst Ratings Changes

A number of analysts have recently weighed in on RDUS shares. Seaport Res Ptn lowered shares of Radius Recycling from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 28th. StockNews.com raised Radius Recycling from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th.

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.