Suncrete (NASDAQ:RMIX) Hits New 52-Week Low – Here’s Why

Shares of Suncrete (NASDAQ:RMIX) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $8.08 and last traded at $8.0750, with a volume of 23,375 shares traded. The stock had previously closed at $8.39.

Analyst Ratings Changes

Several equities research analysts recently commented on RMIX shares. Jefferies Financial Group reissued a “buy” rating and issued 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 research note on Saturday, October 3rd. B. Riley Financial reaffirmed a “buy” rating and issued a $25.00 target price (down from $26.00) on shares of Suncrete in a research report on Wednesday, August 19th. Finally, Weiss Ratings lowered Suncrete from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Suncrete presently has a consensus rating of “Buy” and a consensus price target of $22.25.

Suncrete Price 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 company has a market cap of $608.57 million, a PE ratio of -59.21 and a beta of 0.93. The company’s 50-day simple moving average is $11.69 and its 200 day simple moving average is $15.83.

Suncrete (NASDAQ:RMIX) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.70). The firm had revenue of $97.23 million during the quarter, compared to analyst estimates of $104.93 million. The business’s revenue for the quarter was up 146.2% on a year-over-year basis. On average, sell-side analysts predict that Suncrete will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Suncrete

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new stake in Suncrete in the second quarter valued at approximately $29,000. State of Alaska Department of Revenue purchased a new stake in shares of Suncrete during the 3rd quarter worth $29,000. Central Pacific Bank Trust Division purchased a new stake in shares of Suncrete during the 3rd quarter worth $32,000. Susquehanna International Group LLP purchased a new stake in shares of Suncrete during the 2nd quarter worth $285,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of Suncrete during the third quarter worth $719,000. 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.