Suncrete (NASDAQ:RMIX) Stock Price Down 5.7% – Here’s What Happened

Suncrete (NASDAQ:RMIX) was down 5.7% on Tuesday . The stock traded as low as $16.17 and last traded at $16.1750. 71,872 shares changed 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 Analysts Forecast Growth

RMIX has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Suncrete from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Roth Capital began coverage on shares of Suncrete in a report on Thursday, May 14th. They set a “buy” rating and a $21.00 price objective for the company. William Blair began coverage on shares of Suncrete in a report on Monday, May 4th. They set an “outperform” rating on the stock. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective on shares of Suncrete in a report on Tuesday, August 18th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $25.00 price target (down from $26.00) on shares of Suncrete in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $22.25.

Suncrete Trading Down 5.1%

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 company has a market cap of $1.20 billion, a price-to-earnings ratio of -116.25 and a beta of 0.72. The company’s 50 day moving average price is $19.02.

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 for the quarter, compared to the consensus estimate of $104.93 million. Suncrete’s revenue was up 146.2% compared to the same quarter last year. Equities analysts forecast that Suncrete will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Suncrete

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in Suncrete during the 2nd quarter worth approximately $27,360,000. Alyeska Investment Group L.P. acquired a new position in Suncrete in the 2nd quarter valued at $78,044,000. Susquehanna International Group LLP purchased a new position in shares of Suncrete in the 2nd quarter valued at $285,000. Finally, Harraden Circle Investments LLC acquired a new position in shares of Suncrete during the 2nd quarter worth approximately $17,647,000. 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.