Suncrete (NASDAQ:RMIX) Shares Gap Up – Here’s Why

Shares of Suncrete (NASDAQ:RMIX) gapped up before the market opened on Friday. The stock had previously closed at $8.12, but opened at $8.49. Suncrete shares last traded at $6.9660, with a volume of 119,519 shares traded.

Wall Street Analyst Weigh In

RMIX has been the topic of several recent analyst reports. B. Riley Financial reiterated a “buy” rating and issued a $25.00 target price (down from $26.00) on shares of Suncrete in a report on Wednesday, August 19th. Jefferies Financial Group restated a “buy” rating and set a $22.00 price target on shares of Suncrete in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of Suncrete from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings lowered shares of Suncrete from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. Two 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, the company presently has a consensus rating of “Buy” and an average target price of $22.25.

Suncrete Trading Down 15.2%

The firm has a market capitalization of $506.10 million, a PE ratio of -49.00 and a beta of 0.93. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $11.53 and a two-hundred day moving average price of $15.78.

Suncrete (NASDAQ:RMIX) last issued its quarterly earnings data on Friday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.11). The company had revenue of $140.96 million during the quarter. Analysts expect that Suncrete will post -0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. State Street Corp acquired a new stake in shares of Suncrete during the second quarter valued at about $4,358,000. Harraden Circle Investments LLC purchased a new stake in shares of Suncrete in the 2nd quarter valued at approximately $17,647,000. Alyeska Investment Group L.P. purchased a new stake in shares of Suncrete in the 2nd quarter valued at approximately $78,044,000. Bank of New York Mellon Corp acquired a new position in shares of Suncrete in the 2nd quarter worth approximately $27,360,000. Finally, CenterBook Partners LP lifted its holdings in shares of Suncrete by 170.0% in the 3rd quarter. CenterBook Partners LP now owns 236,405 shares of the company’s stock worth $3,043,000 after acquiring an additional 148,853 shares during the last quarter. Hedge funds and other institutional investors own 71.07% of the company’s stock.

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.