Suncrete (NASDAQ:RMIX) Reaches New 52-Week Low – Time to Sell?

Suncrete (NASDAQ:RMIX)’s share price hit a new 52-week low on Thursday. The company traded as low as $8.08 and last traded at $8.0750, with a volume of 23,375 shares changing hands. The stock had previously closed at $8.39.

Analyst Ratings Changes

Several brokerages have issued reports on RMIX. B. Riley Financial reissued 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. Weiss Ratings lowered shares of Suncrete from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 23rd. Wall Street Zen cut Suncrete from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 target price on shares of Suncrete in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $22.25.

Suncrete Stock Performance

The stock has a market capitalization of $608.57 million, a PE ratio of -59.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 1.15. The firm has a fifty day moving average price of $11.69 and a two-hundred day moving average price of $15.83.

Suncrete (NASDAQ:RMIX) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.70). The firm had revenue of $97.23 million for the quarter, compared to analysts’ expectations of $104.93 million. The company’s revenue was up 146.2% compared to the same quarter last year. Research analysts expect that Suncrete will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RMIX. Alyeska Investment Group L.P. bought a new position in Suncrete in the second quarter worth approximately $78,044,000. Bank of New York Mellon Corp purchased a new position in shares of Suncrete in the second quarter worth $27,360,000. Harraden Circle Investments LLC acquired a new stake in shares of Suncrete during the second quarter worth about $17,647,000. Royce & Associates LP purchased a new position in shares of Suncrete during the third quarter worth $5,512,000. Finally, State Street Corp purchased a new position in shares of Suncrete during the 2nd quarter valued at about $4,358,000. 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.