Radius Recycling (NASDAQ:RDUS) Upgraded at StockNews.com

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

Radius Recycling Stock Down 0.4 %

Shares of NASDAQ:RDUS opened at $17.63 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70. The stock has a market capitalization of $494.33 million, a P/E ratio of -1.81 and a beta of 1.53. The stock has a 50-day simple moving average of $16.17 and a 200-day simple moving average of $16.82.

Institutional Investors Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently made changes to their positions in RDUS. Gladius Capital Management LP acquired a new stake in shares of Radius Recycling during the 2nd quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Radius Recycling in the second quarter worth $30,000. Founders Capital Management increased its position in Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after buying an additional 600 shares during the period. Banque Cantonale Vaudoise increased its position in Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after buying an additional 564 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Radius Recycling in the first quarter worth $51,000. 78.11% of the stock is owned by institutional investors and hedge funds.

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.