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

Shares of Suncrete (NASDAQ:RMIX) gapped down prior to trading on Tuesday. The stock had previously closed at $12.22, but opened at $11.70. Suncrete shares last traded at $11.6630, with a volume of 10,851 shares.

Analyst Upgrades and Downgrades

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

Suncrete Stock Performance

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 stock has a 50-day moving average price of $15.90. The firm has a market capitalization of $868.28 million, a price-to-earnings ratio of -84.39 and a beta of 0.83.

Suncrete (NASDAQ:RMIX) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 146.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Suncrete will post -0.01 EPS for the current fiscal year.

Institutional Trading of Suncrete

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

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.