Suncrete (NASDAQ:RMIX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Suncrete (NASDAQ:RMIX) from a sell rating to a strong sell rating in a report issued on Saturday morning,Wall Street Zen reports.

RMIX has been the topic of several other research reports. B. Riley Financial reissued a “buy” rating and issued a $25.00 price target (down from $26.00) on shares of Suncrete in a research note on Wednesday, August 19th. Weiss Ratings cut Suncrete from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of Suncrete in a report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.25.

Suncrete Stock Performance

Shares of RMIX opened at $11.69 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 1.15. The company has a 50 day simple moving average of $15.90. Suncrete has a 52-week low of $9.20 and a 52-week high of $25.50. The firm has a market cap of $859.10 million, a price-to-earnings ratio of -83.50 and a beta of 0.83.

Suncrete (NASDAQ:RMIX) last announced 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 for the quarter, compared to analysts’ expectations of $104.93 million. The business’s quarterly revenue was up 146.2% compared to the same quarter last year. Equities research analysts predict that Suncrete will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Suncrete

Large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in shares of Suncrete in the 2nd quarter valued at about $78,044,000. Bank of New York Mellon Corp acquired a new position in Suncrete during the second quarter valued at approximately $27,360,000. Harraden Circle Investments LLC acquired a new position in Suncrete during the second quarter valued at approximately $17,647,000. State Street Corp bought a new position in Suncrete in the second quarter valued at approximately $4,358,000. Finally, Susquehanna International Group LLP bought a new position in Suncrete in the second quarter valued at approximately $285,000. 71.07% of the stock is currently owned by institutional investors and hedge funds.

About Suncrete

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.