StockNews.com Upgrades Radius Recycling (NASDAQ:RDUS) to “Hold”

Radius Recycling (NASDAQ:RDUS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Radius Recycling Stock Down 2.1 %

Shares of RDUS stock opened at $18.11 on Thursday. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70. The firm’s fifty day moving average price is $16.32 and its two-hundred day moving average price is $16.84. The firm has a market capitalization of $507.80 million, a P/E ratio of -1.86 and a beta of 1.53.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDUS. Acadian Asset Management LLC acquired a new stake in Radius Recycling in the 1st quarter valued at $6,957,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Radius Recycling in the 1st quarter valued at about $4,667,000. Nordea Investment Management AB bought a new position in shares of Radius Recycling in the 1st quarter valued at about $3,959,000. Russell Investments Group Ltd. bought a new position in shares of Radius Recycling in the 1st quarter valued at about $3,884,000. Finally, Fisher Asset Management LLC bought a new position in shares of Radius Recycling in the 4th quarter valued at about $4,488,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.