HCM Acquisition (NASDAQ:HCMA) Trading Up 0.1% – Time to Buy?

HCM Acquisition Corp (NASDAQ:HCMA)’s stock price was up 0.1% during mid-day trading on Friday . The company traded as high as $10.07 and last traded at $10.05. Approximately 4,365 shares changed hands during trading, a decline of 94% from the average daily volume of 78,216 shares. The stock had previously closed at $10.04.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e)” rating on shares of HCM Acquisition in a research note on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, HCM Acquisition has an average rating of “Sell”.

HCM Acquisition Trading Up 0.1%

The business’s 50-day moving average price is $10.15 and its 200 day moving average price is $8.79.

Hedge Funds Weigh In On HCM Acquisition

A number of institutional investors have recently added to or reduced their stakes in HCMA. Boothbay Fund Management LLC bought a new stake in shares of HCM Acquisition during the 3rd quarter valued at about $3,019,000. Hudson Bay Capital Management LP bought a new position in shares of HCM Acquisition in the third quarter worth approximately $505,000. JPMorgan Chase & Co. purchased a new stake in HCM Acquisition in the third quarter valued at approximately $251,000. Meteora Capital LLC bought a new stake in HCM Acquisition during the third quarter valued at approximately $16,587,000. Finally, Whitebox Advisors LLC purchased a new position in HCM Acquisition in the 3rd quarter worth approximately $1,010,000. 11.79% of the stock is currently owned by institutional investors.

HCM Acquisition Company Profile

HCM Acquisition Corp. is a Delaware‐incorporated special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with one or more target businesses. The company raised capital through its initial public offering and is listed on the Nasdaq under the ticker HCMA. As a blank check vehicle, HCM Acquisition holds its funds in trust until it consummates a qualifying merger, share exchange, asset acquisition or other business combination.

The SPAC is sponsored by affiliates of Healthcare Capital Management LLC, a Los Angeles‐based investment firm with experience in healthcare and life sciences investing.