HCM Acquisition (NASDAQ:HCMA) Trading Up 0.2% – Here’s Why

HCM Acquisition Corp (NASDAQ:HCMA) rose 0.2% during trading on Tuesday . The stock traded as high as $10.25 and last traded at $10.24. Approximately 158,138 shares were traded during mid-day trading, an increase of 260% from the average daily volume of 43,886 shares. The stock had previously closed at $10.22.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of HCM Acquisition in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

HCM Acquisition Price Performance

The company’s fifty day moving average price is $10.13 and its 200 day moving average price is $10.13.

HCM Acquisition (NASDAQ:HCMA) last posted its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PenderFund Capital Management Ltd. acquired a new position in HCM Acquisition during the 4th quarter valued at about $72,000. Fort Baker Capital Management LP acquired a new position in HCM Acquisition during the 3rd quarter valued at about $101,000. DLD Asset Management LP acquired a new position in HCM Acquisition during the 3rd quarter valued at about $104,000. Glazer Capital LLC boosted its stake in HCM Acquisition by 5.9% during the 4th quarter. Glazer Capital LLC now owns 317,835 shares of the company’s stock valued at $3,191,000 after purchasing an additional 17,835 shares during the period. Finally, Millennium Management LLC acquired a new position in HCM Acquisition during the 3rd quarter valued at about $202,000. 11.79% of the stock is owned by institutional investors and hedge funds.

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.