HCM Acquisition Corp (NASDAQ:HCMA) Sees Significant Decline in Short Interest

HCM Acquisition Corp (NASDAQ:HCMA) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 2,008 shares, a decrease of 73.8% from the April 30th total of 7,655 shares. Based on an average daily volume of 3,466 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Trading of HCM Acquisition

Several hedge funds have recently modified their holdings of the business. Highbridge Capital Management LLC acquired a new position in HCM Acquisition during the third quarter worth $10,100,000. Berkley W R Corp acquired a new position in HCM Acquisition during the third quarter worth $2,681,000. Context Capital Management LLC acquired a new position in HCM Acquisition during the third quarter worth $5,052,000. Linden Advisors LP acquired a new position in HCM Acquisition during the third quarter worth $10,100,000. Finally, Clear Street Group Inc. acquired a new position in HCM Acquisition during the third quarter worth $2,736,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

HCM Acquisition Trading Up 0.2%

NASDAQ:HCMA traded up $0.02 during mid-day trading on Friday, reaching $10.27. 468,373 shares of the stock were exchanged, compared to its average volume of 47,667. The company has a 50 day simple moving average of $10.14 and a 200-day simple moving average of $10.13. HCM Acquisition has a 1 year low of $10.03 and a 1 year high of $10.49.

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

About HCM Acquisition

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.