Suncrete (NASDAQ:RMIX) Shares Down 5.1% - Should You Sell?

Key Points

• Suncrete shares fell 5.1% to about $11.60 in midday trading, with volume down 78% from the average. The stock remains well below its 50-day moving average of $16.02.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus “Buy” rating and an average price target of $22.25, despite recent downgrades from Wall Street Zen and Weiss Ratings.
• The company significantly missed quarterly earnings expectations, reporting a loss of $0.72 per share versus an expected loss of $0.02, while revenue reached $97.23 million—up 146.2% year over year but below estimates.

Suncrete (NASDAQ:RMIX - Get Free Report)'s share price was down 5.1% during mid-day trading on Monday. The stock traded as low as $11.57 and last traded at $11.5950. Approximately 81,759 shares were traded during trading, a decline of 78% from the average daily volume of 372,872 shares. The stock had previously closed at $12.22.

Wall Street Analyst Weigh In

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

Suncrete Trading Down 4.8%

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's 50-day simple moving average is $16.02. The stock has a market capitalization of $854.62 million, a PE ratio of -83.04 and a beta of 0.83.

Suncrete (NASDAQ:RMIX - Get Free Report) last posted its quarterly 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 the consensus estimate of $104.93 million. The business's revenue for the quarter was up 146.2% compared to the same quarter last year. On average, equities research analysts anticipate that Suncrete will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Suncrete

A number of hedge funds have recently made changes to their positions in the company. State Street Corp acquired a new position in Suncrete during the second quarter worth about $4,358,000. Harraden Circle Investments LLC acquired a new stake in Suncrete in the 2nd quarter valued at about $17,647,000. Alyeska Investment Group L.P. purchased a new position in Suncrete in the 2nd quarter worth approximately $78,044,000. Bank of New York Mellon Corp purchased a new position in Suncrete in the 2nd quarter worth approximately $27,360,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Suncrete during the 2nd quarter worth approximately $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.

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