Suncrete (NASDAQ:RMIX) Shares Down 5.7% – Should You Sell?

Suncrete (NASDAQ:RMIX)’s share price dropped 5.7% on Tuesday . The company traded as low as $16.17 and last traded at $16.1750. Approximately 71,872 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 345,144 shares. The stock had previously closed at $17.15.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RMIX. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price objective on shares of Suncrete in a research note on Tuesday, August 18th. Weiss Ratings raised Suncrete from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Roth Capital initiated coverage on Suncrete in a research report on Thursday, May 14th. They issued a “buy” rating and a $21.00 price target for the company. Wall Street Zen upgraded shares of Suncrete to a “sell” rating in a research report on Saturday, June 13th. Finally, Robert W. Baird started coverage on shares of Suncrete in a report on Wednesday, May 27th. They issued an “outperform” rating and a $21.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $22.25.

Suncrete Trading Down 0.2%

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -115.43 and a beta of 0.71. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.40. The company has a 50-day simple moving average of $18.84.

Suncrete (NASDAQ:RMIX) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.70). The company had revenue of $97.23 million during the quarter, compared to analysts’ expectations of $104.93 million. The firm’s quarterly revenue was up 146.2% compared to the same quarter last year. On average, equities analysts anticipate that Suncrete will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Suncrete

A number of hedge funds and other institutional investors have recently modified their holdings of RMIX. Susquehanna International Group LLP purchased a new position in Suncrete during the second quarter valued at approximately $285,000. Harraden Circle Investments LLC purchased a new position in shares of 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 worth $27,360,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Suncrete in the 2nd quarter worth $78,044,000. 71.07% of the stock is currently owned by institutional investors.

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.