Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Update (2024)

Posted by MarketBeat News on Jun 2nd, 2024

Radius Recycling, Inc. (NASDAQ:RDUS – Get Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 917,700 shares, an increase of 15.8% from the April 30th total of 792,600 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average daily volume of 251,300 shares, the days-to-cover ratio is presently 3.7 days.

Radius Recycling Price Performance

NASDAQ:RDUS opened at $17.11 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $18.55 and its 200-day moving average is $22.89. Radius Recycling has a 52 week low of $16.57 and a 52 week high of $36.64.

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

Radius Recycling Announces Dividend

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The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.1875 per share. The ex-dividend date was Friday, April 19th. This represents a $0.75 annualized dividend and a dividend yield of 4.38%. Radius Recycling’s dividend payout ratio is -32.89%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RDUS shares. Seaport Res Ptn raised shares of Radius Recycling from a “strong sell” rating to a “hold” rating in a research note on Thursday. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Millburn Ridgefield Corp bought a new position in shares of Radius Recycling in the first quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Radius Recycling during the first quarter valued at $51,000. Ameritas Investment Partners Inc. purchased a new stake in Radius Recycling in the 1st quarter worth about $54,000. Shell Asset Management Co. purchased a new position in shares of Radius Recycling in the first quarter worth about $81,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in Radius Recycling in the 1st quarter valued at approximately $159,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Company Profile

(Get Free Report)

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.

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