Suncrete (NASDAQ:RMIX) Trading Down 5.7% – What’s Next?

Suncrete (NASDAQ:RMIX) traded down 5.7% on Tuesday . The stock traded as low as $16.17 and last traded at $16.1750. Approximately 71,872 shares changed hands during trading, a decline of 79% from the average daily volume of 345,144 shares. The stock had previously closed at $17.15.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of Suncrete in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Suncrete to a “sell” rating in a report on Saturday, June 13th. Robert W. Baird initiated coverage on shares of Suncrete in a report on Wednesday, May 27th. They set an “outperform” rating and a $21.00 target price for the company. Weiss Ratings raised Suncrete from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 14th. Finally, William Blair initiated coverage on Suncrete in a report on Monday, May 4th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $22.25.

Suncrete Price Performance

The company has a market capitalization of $1.20 billion, a PE ratio of -116.25 and a beta of 0.72. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $19.02.

Suncrete (NASDAQ:RMIX) last issued its earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.70). The business had revenue of $97.23 million during the quarter, compared to analyst estimates of $104.93 million. The company’s quarterly revenue was up 146.2% compared to the same quarter last year. On average, sell-side analysts expect that Suncrete will post -0.01 EPS for the current year.

Institutional Trading of Suncrete

Several hedge funds have recently modified their holdings of RMIX. Susquehanna International Group LLP purchased a new stake in Suncrete during the 2nd quarter valued at $285,000. Harraden Circle Investments LLC acquired a new position in Suncrete in the 2nd quarter valued at $17,647,000. Bank of New York Mellon Corp bought a new position in shares of Suncrete in the 2nd quarter valued at $27,360,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Suncrete in the second quarter worth about $78,044,000. Institutional investors and hedge funds own 71.07% of the company’s stock.

Suncrete Company Profile

Haymaker Acquisition Corp. 4 is a blank check company. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses or entities. Haymaker Acquisition Corp. 4 is based in New York.