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

Suncrete (NASDAQ:RMIX) shares gapped up prior to trading 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.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RMIX shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price objective 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 report on Saturday, October 3rd. B. Riley Financial restated a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Suncrete in a research report on Wednesday, August 19th. Finally, Weiss Ratings downgraded Suncrete from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $22.25.

Suncrete Stock Performance

The stock has a market capitalization of $373.33 million, a PE ratio of -36.29 and a beta of 0.93. The firm has a fifty day moving average price of $11.31 and a two-hundred day moving average price of $15.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 1.15.

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

Hedge Funds Weigh In On Suncrete

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Suncrete in the 3rd quarter worth $3,707,000. State Street Corp boosted its holdings in Suncrete by 22.4% in the third quarter. State Street Corp now owns 236,814 shares of the company’s stock valued at $3,048,000 after purchasing an additional 43,373 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Suncrete by 576.9% during the 3rd quarter. Voya Investment Management LLC now owns 200,000 shares of the company’s stock valued at $2,574,000 after buying an additional 170,454 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Suncrete during the 3rd quarter valued at about $5,512,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in shares of Suncrete in the third quarter worth about $719,000. 71.07% of the stock is owned by hedge funds and other institutional investors.

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.