Suncrete (NASDAQ:RMIX) Stock Falls 5.1% – Time to Sell?

Suncrete (NASDAQ:RMIX) shares dropped 5.1% during mid-day trading on Monday. The company traded as low as $11.57 and last traded at $11.5950. Approximately 81,759 shares were traded during mid-day trading, a decline of 78% from the average session volume of 372,872 shares. The stock had previously closed at $12.22.

Analysts Set New Price Targets

RMIX has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Suncrete from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings lowered shares of Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. B. Riley Financial reiterated a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Suncrete in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.25.

Suncrete Trading Down 4.8%

The stock’s fifty day moving average price is $16.02. 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 company has a market cap of $854.62 million, a PE ratio of -83.04 and a beta of 0.83.

Suncrete (NASDAQ:RMIX) last announced its earnings results 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 business had revenue of $97.23 million for the quarter, compared to the consensus estimate of $104.93 million. The firm’s revenue for the quarter was up 146.2% on a year-over-year basis. As a group, equities analysts predict that Suncrete will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Suncrete

Hedge funds have recently bought and sold shares of the company. State Street Corp purchased a new position in Suncrete during the 2nd quarter valued at about $4,358,000. Harraden Circle Investments LLC purchased a new stake in Suncrete during the second quarter worth about $17,647,000. Alyeska Investment Group L.P. purchased a new stake in Suncrete during the second quarter worth about $78,044,000. Bank of New York Mellon Corp acquired a new stake in shares of Suncrete during the second quarter worth about $27,360,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Suncrete during the second quarter worth about $29,000. 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.